All sourced information must be accompanied by at least 3-4 lines of student-written, original text, explaining each line of quoted content. Quoted, summarized, or paraphrased material, derived from a source must always be cited/referenced. Properly credit the author per APA citation guidelines both in-text and as a reference at the end of the response. Question 1 Why it is often easier to obtain financing for the purchase of an existing business, versus starting a new business? Question 2 Who should potential buyers enlist to help with the review of the documents and sales agreement, when purchasing an existing business? Question 3 Outline several of the disadvantages of starting a business from the ground up. Question 4 Describe at least three things that are contained in a purchase agreement. Question 5 What is a franchise? Question 6 What is one of the key benefits that business format franchisors gain from their franchisees? Question 7 Besides financial capital, highlight and discuss other benefits that franchisees bring to the franchise arrangement. Question 8 What is the benefit in franchisors attempting to convert the tacit knowledge held by franchisees? Question 9 In the buyer’s due diligence process as part of a merger and acquisition, what information does the inspection of financial statements and the management and operations review examine? Question 10 What are at least three potential strategic objectives of firms in a prospective merger and acquisition? Question 11 What are business alliances, and what critical role do they play in the process of knowledge acquisition? Question 12 Discuss the modes of financing typically used as traditional funding sources for mergers and acquisitions. Question 13 Describe what an acquisition is and discuss the difference between a leveraged buyout and a bailout acquisition. Question 14 When a merger takes place, what happens to the ownership/equity of shareholders of the company being merged? Question 15 What is a congeneric merger?