https://padlet.com/parth_datar/PF_Unit_7_1 A Padlet about understanding en-us 2018-05-18 15:44:03 UTC 2018-05-18 17:28:36 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Manbag.png parth_datar https://padlet.com/parth_datar/PF_Unit_7_1/wish/261985396 The common insurance I wouldn’t buy is product liability insurance, as it protects “against financial loss as a result of a defect product that causes injury or bodily harm” (Personal Finance, Unit 7, Page 5). This is due to the fact that my business would be based in computers and applications, where physical risks are not large. Since software cannot cause physical harm, I would not be able to be held responsible for any physical damages. This would most likely be included in the product descriptions, in the strange case where an accident did occur while the customer was using the software.]]> 2018-05-18 16:38:05 UTC https://padlet.com/parth_datar/PF_Unit_7_1/wish/261985396 parth_datar https://padlet.com/parth_datar/PF_Unit_7_1/wish/261991950 My business would entail selling software online, without a physical store. While there may be extra issues about online security, a lot of the physical risk in accidents and delivery is removed from the equation due to online delivery.

]]> 2018-05-18 16:56:02 UTC https://padlet.com/parth_datar/PF_Unit_7_1/wish/261991950 parth_datar https://padlet.com/parth_datar/PF_Unit_7_1/wish/261993786 The common insurance I would buy is liability insurance, a type of insurance that covers “legal hassles due to accident, injuries and claims of negligence” (Personal Finance, Unit 7, Page 4). This is due the fact that copyright claims can always surface, even when they are illegitimate. When it comes to that, it may be important to settle the matter without a lengthy legal battle. With protection from legal fees, it would be possible to conduct such a legal battle quickly and efficiently, without fear of excessive costs.]]> 2018-05-18 17:01:33 UTC https://padlet.com/parth_datar/PF_Unit_7_1/wish/261993786 parth_datar https://padlet.com/parth_datar/PF_Unit_7_1/wish/261998111 Another common type of insurance that I wouldn’t carry would be property insurance, a type of insurance that covers “everything related to the loss and damage of company property due to a wide-variety of events such as fire, smoke, wind and hail storms, civil disobedience and vandalism” (Personal Finance, Unit 7, Page 5). Since my business is conducted online, there is an increased risk of intellectual theft in the form of piracy. However, piracy doesn’t actually damage company property, as the business can continue to sell the product after piracy. However, since there is no physical store, and I will probably rent out servers, I have no worry of fires, vandalism, and other acts of nature.]]> 2018-05-18 17:14:19 UTC https://padlet.com/parth_datar/PF_Unit_7_1/wish/261998111