Monday, January 27, 2020

Experiments of Copper (II) Sulphate

Experiments of Copper (II) Sulphate Aim This experiment is to calculate the x which is water of crystallization and the chemical equation is CuSO4 (aq) Â · xH2O (s) and to observed colour changed when complex formation of copper (II) sulphate are formed. Introduction Molar mass is summation of all the atomic masses in a chemical equation. Transition metals are the elements which are found in the d-block in The Periodic Table. The element which is in the first transition series is strong oxidizers and they can form bivalent metal ions which have reducibility and its charge is 2+. Because of empty of d-orbital, transition metals easily form coordination compounds. Copper can form coordination compound; however, its d10 structure is stable so that its highest charge is +3. Hydrochloric acid, its chemical formula is HCl. It is a strong acid and is easily vaporize so that after opening the container which contains HCl, the acid vapour will be seeing very clearly. Because HCl can volatilize, it will combine with the water and form HCl drops (Baidu.Baike, 2009). Copper (II) sulphate often exists as a crystallization as a pentahydrate which means a molecule contains five crystallization of water. It can be sale as blue vitriol which is a chemical material using to produce pigments, battery and so on (Chmicalland21, nd). Ammonia solution is a colourless liquid and has pungent smell. If it is exposing to air it loses NH3 quickly (Down.Food126, 2008). The displacement reaction is a simple substance reacts with a compound, and forms other kinds of simple substance and compound. The Crystal Theory is a theory that search for the chemical bond of the transition metals. The transition metals ions are located on the crystal field and surrounding by anions and dipole molecules. The anions are called central ions, and the dipole molecules are called ligands. These ions can affect the energy which belongs to d-orbital, because of a splitting of energy levels. However, this theory can used to explain the colour changes of the complex (Science.Jrank, 2010). Lister and Renshaw (2000, p469) has pointed out that the molecules or ions use lone pairs to form dative bonds with a d-block metal which is surrounding by a transition metal to form, its a complex. In addition, these kinds of molecules or ions are called ligands. Method Firstly, several apparatus were used in this experiment, for instance, crucible, spatulas, burner, tongs, electronic balance, stand, dessicator, paper clip, conical flasks and pipettes. Secondly, some chemical were used, for example, hydrated copper sulphate, water, concentrate hydrochloric acid, ammonia solution. The last but one, students should wear the coat and safety glasses in the experiment. Part A First, the inside of crucible was cleaned. Second, a paper clip was placed into the crucible and weighed by electronic balance. The weight was recorded down to 0.01g. Third, 3g of copper sulphate was placed into the crucible using the spatula, and was weighed by the electronic balance. Fourth, the burner was lit, and was put under the stand. The paper clip and copper (II) sulphate was placed on the stand and was heated for about 5 minutes. The crystal was stirred with the paper clip. The colour was observed. Fifth, the crucible was placed inside the dessicator for 5 minutes to cool down using tongs (The paper clip was left in the crucible). Sixth, the crucible was weighted when it was cool enough. At last, some water was added into the crucible and indicates the blue colour which is the colour of crystallization of water. Part B Firstly, some copper sulphate and water was put into 3 conical flasks and was shaken to dissolve. Secondly, concentrated hydrochloric acid was dropped into one conical flask using a pipette and observed. Lastly, some ammonia acid was dropped into a second conical flask using another pipette until the colour changed. The colour of this solution should observe carefully after different volume ammonia acid was added. Discussion Part A The chemical formula in part A is CuSO4 (aq) Â · xH2O (l) > CuSO4 (aq) + xH2O (l) Mr 160 + 18x 160 Mass 2.22g 1.4g 1.4 (160 + 18x) = 160 * 2.22 224 + 25.2 = 355.2 25.2 x = 131.2 x = 5.20634 Therefore, x is equal to 5. Here is an explanation of the calculation. The Mr of CuSO4 is 160, and the Mr of water is 18x which the x is still a unknown value. The mass of CuSO4 and water is 2.22g and 1.4g. The number cross multiplies with each other. As a result, the x was come out. Thus, the value of x is slight greater than predict. According to the theory, the right result should be lower than 5 value, maybe the copper sulphate was oxidised, and the water of crystallization was not evaporated enough so that influence the final result. The copper (II) sulphate became black because of the oxidation of the copper. The copper (II) sulphate in the experiment was heated twice in order to make the water of crystallization evaporate completely. If it heated too strongly, the colour of copper sulphate will turn to black. The chemical equation of this reaction is: CuSO4 (aq) > CuO (s) + SO3 (g) Part B One of the reasons why the colour changed is causes by spectrum. The copper (II) sulphate indicated blue in the experiment. Because when the ordinary sunlight passes through the solution, the solution absorbed the wavelengths of the light. The red area in the spectrum was absorbed by the copper (II) ions. However, the sunlight which through the solution and on the other side of the conical flasks made the solution indicates the colour except red. The blue colour is the mixture of wavelengths (Chemguide, 2009). The colour changed in ammonia solution added into copper (II) sulphate is causes by the complex. The light blue colour substance was indicated, and this is basic copper sulphate precipitate. After more ammonia solution was poured into the solution, the precipitate will dissolve and produce [Cu (NH3)4] 2+ which is an indigo colour substance and replaced the basic copper sulphate, and water molecule was replaced by ammonia (Chemguide, 2009). The chemical equation is: Cu2 (l) + 4NH3 (l) > [Cu (NH3)4] 2+ (aq) The transition metals have their own colour causes by d orbital. When the HCl was poured into copper (II) sulphate solution, the [Cu (H2O) 6]2+ was produced, and the colour of this ion is blue. After that, the [CuCl4]2+ was produced, and its colour is yellow. However, the solution was turned to green. Lister and Renshaw (2000, p476) pointed out that the energy gap between d orbital is suitable for the frequency of electromagnetic radiation in the ordinary light, as a result, most of the transition metal has its own colour. Conclusion To summarize, part A shows that how to calculate the water of crystallization, and colour changed between hydrated copper (II) sulphate and anhydrous copper (II) sulphate. In part B shows the definition of ligands, complexes and colour change cause by the spectrum. Reference Baike.Baidu [online] (2009) Available at: http://baike.baidu.com/view/1729.htm?fr=ala0_1_1 Accessed date: December 28, 2009 Chemguide [online] (2009) Available at: http://www.chemguide.co.uk/inorganic/complexions/colour.html Accessed date: January 6, 2010 Chmicalland21 [online] (nd) Available at: http://chemicalland21.com/industrialchem/inorganic/COPPER%20SULPHATE%20PENTAHYDRATE.htm Accessed date: January 10, 2010 Down.food126 [online] (2008) Available at: http://down.food126.com/download/view-software-3346.html Accessed date: December 28, 2009 Lister, R. and J., Renshaw (2000). Chemistry for Advanced Level (3rd edition). Cheltenham: Nelson Thornes Ltd, Accessed date: December 28, 2009 Lane, R (2009) Chemistry Practical 2 Handout Accessed date: December 28, 2009 Lookchem [online] (2008) Available at: http://www.lookchem.com/COPPER-II-SULFATE-PENTAHYDRATE-1-1-5-/ Accessed date: December 28, 2009 Science.Jrank [online] (2010) Available at: http://science.jrank.org/pages/13786/crystal-field-theory.html Accessed date: January 6, 2010

Sunday, January 19, 2020

Emergence of Venture Capital in Western Europe vs the United States :: essays research papers fc

Emergence of Venture Capital in Western Europe vs the United States Table of contents 1 Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1 2 The nature of venture capital  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.1 Definition of venture capital  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.2 (Ad)venturers of the past  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.3 How venture capital works  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  3   Ã‚  Ã‚  Ã‚  Ã‚  2.4 For innovation a vehicle is needed  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  4   Ã‚  Ã‚  Ã‚  Ã‚  2.5 Venture capital helps create vehicles for innovation  Ã‚  Ã‚  Ã‚  Ã‚  4   Ã‚  Ã‚  Ã‚  Ã‚  2.6 Realization of financial returns  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  5 3 Screening and evaluation process  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.1 Strategies and objectives of venture capitalists  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.2 Screening and decision making process  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.3 Decision to invest  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  8   Ã‚  Ã‚  Ã‚  Ã‚  3.4 Deal structuring  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  9 4 The development of venture capital in Western Europe  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  10   Ã‚  Ã‚  Ã‚  Ã‚  4.1 General  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  10   Ã‚  Ã‚  Ã‚  Ã‚  4.2 Environmental factors influencing innovation  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  11 5 Interview  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  17 6 Conclusion  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  20 Bibliography  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  21 1 Introduction The phenomenon that is now called venture capital developed after World War II in the United States. Many returning soldiers were unwilling to take back their old jobs and started out on their own. Moreover the war had produced many technological innovations and ideas that could be put to civilian use. Facilities and machines used in the war production had become unnecessary and were often available at bargain prices. The post war economy expanded fast and offered many business opportunities. It was in this environment that many new enterprises started and needed capital. The first European venture capitalists appeared in the 60’s following the U.S.A. example. In the 80’s the venture capital industry in Europe had reached a level comparable to this industry in the United States during the 50’s (Bygrave, and Timmons, 1992). The purpose of this paper is to explain why the venture capital industry in Western Europe has developed so many years later than in the United States. In chapter two the nature of venture capital will be discussed. The definition and the history of venture capital will be given and how venture capital works will be discussed. For a better understanding of venture capital, in chapter three, the screening and evaluation process to analyse investment possibilities and to take investment decisions will be discussed. In chapter four, the factors influencing the development of venture capital and the causes of the later development of the industry in Western Europe will be explained. Also a brief summary is given of venture capital today in Western Europe based on an interview with a venture capitalist. In chapter five an interview with a venture capitalist about the changes in venture capital in the Netherlands is given. Finally, in chapter six a summary of the paper will be given. 2 The nature of venture capital 2.1 Definition of venture capital Dictionaries describe ‘venture’ as an undertaking that is dangerous, daring, and of uncertain outcome. At a venture means at stake. Emergence of Venture Capital in Western Europe vs the United States :: essays research papers fc Emergence of Venture Capital in Western Europe vs the United States Table of contents 1 Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1 2 The nature of venture capital  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.1 Definition of venture capital  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.2 (Ad)venturers of the past  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.3 How venture capital works  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  3   Ã‚  Ã‚  Ã‚  Ã‚  2.4 For innovation a vehicle is needed  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  4   Ã‚  Ã‚  Ã‚  Ã‚  2.5 Venture capital helps create vehicles for innovation  Ã‚  Ã‚  Ã‚  Ã‚  4   Ã‚  Ã‚  Ã‚  Ã‚  2.6 Realization of financial returns  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  5 3 Screening and evaluation process  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.1 Strategies and objectives of venture capitalists  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.2 Screening and decision making process  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.3 Decision to invest  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  8   Ã‚  Ã‚  Ã‚  Ã‚  3.4 Deal structuring  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  9 4 The development of venture capital in Western Europe  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  10   Ã‚  Ã‚  Ã‚  Ã‚  4.1 General  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  10   Ã‚  Ã‚  Ã‚  Ã‚  4.2 Environmental factors influencing innovation  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  11 5 Interview  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  17 6 Conclusion  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  20 Bibliography  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  21 1 Introduction The phenomenon that is now called venture capital developed after World War II in the United States. Many returning soldiers were unwilling to take back their old jobs and started out on their own. Moreover the war had produced many technological innovations and ideas that could be put to civilian use. Facilities and machines used in the war production had become unnecessary and were often available at bargain prices. The post war economy expanded fast and offered many business opportunities. It was in this environment that many new enterprises started and needed capital. The first European venture capitalists appeared in the 60’s following the U.S.A. example. In the 80’s the venture capital industry in Europe had reached a level comparable to this industry in the United States during the 50’s (Bygrave, and Timmons, 1992). The purpose of this paper is to explain why the venture capital industry in Western Europe has developed so many years later than in the United States. In chapter two the nature of venture capital will be discussed. The definition and the history of venture capital will be given and how venture capital works will be discussed. For a better understanding of venture capital, in chapter three, the screening and evaluation process to analyse investment possibilities and to take investment decisions will be discussed. In chapter four, the factors influencing the development of venture capital and the causes of the later development of the industry in Western Europe will be explained. Also a brief summary is given of venture capital today in Western Europe based on an interview with a venture capitalist. In chapter five an interview with a venture capitalist about the changes in venture capital in the Netherlands is given. Finally, in chapter six a summary of the paper will be given. 2 The nature of venture capital 2.1 Definition of venture capital Dictionaries describe ‘venture’ as an undertaking that is dangerous, daring, and of uncertain outcome. At a venture means at stake.

Saturday, January 11, 2020

Williams and Utilitarianism

In his critique of Utilitarianism, Williams finds fault in the Utilitarian commitment to maximum utility in that it undermines the integrity of moral agents and denies people the projects and relationships they inherently value. Famously known as his â€Å"Integrity Objection†, this proposition is immediately very enticing in that it appeals to the idea of the invaluable and imperative nature of benevolence and compassion, versus the cold, impartial hand of Utilitarianism. That is not to say, however, that Utilitarians have been dealt a hefty criticism from which they have no defense.While Williams may be correct in claiming that abandoning commitments or devaluing personal relationships may be counterintuitive, a Utilitarian could argue that his construction of â€Å"integrity† is equally counterintuitive in that it would require one to override their intrinsic pursuit of self- preservation. Additionally, if we were to presuppose Williams’ correctness, a Utilita rian could argue that the only plausible implementation of such a theory would mean valuing these emotional engagements above one’s own agency, a scenario even more demanding and sacrificial of one’s identity than the Utilitarian proposal.Williams directs this objection specifically toward Act-Utilitarianism, a branch of Utilitarian thought that deems the morally correct action as the one that produces the greatest amount of happiness for the greatest number of people. He claims that such a theory is incompatible with the aspect of human happiness that is found in the commitment to personal projects and relationships: â€Å"Utilitarianism would do well then to acknowledge the evident fact that among the things that make people happy is not only making other people happy, but being taken up or involved in any of a vast range of projects. 1 While Utilitarians actually need lower order projects comprised of relationships and commitments in order to validate their higher order projects, the lower order projects will always serve the concerns of the first order. In turn, Williams asserts that such a compromise of emotional engagements for maximum utility usurps one’s sense of self, consequently marring the distinction between one’s commitment and one’s identity: â€Å"(†¦ ) that criterion would eliminate any desire at all which was not blankly and in the most straightforward sense egoistic.Thus we should be reduced to frankly egoistic first-order projects, and- for all essential purposes- the one second-order utilitarian project of maximally satisfying first-order projects. †2Abandoning certain commitments for the sake of another project can be acceptable, but when forced to relinquish those which a person deeply values, Williams argues they are robbed of â€Å"a sense of one’s moral identity† or what he describes as one’s integrity.Williams offers us two scenarios to further exemplify his theory: â€Å"Jim†, who is told by the edicts of utilitarianism to murder one innocent Amazon Indian in order to prevent twenty more being murdered, and â€Å"George†, a chemist who is (also by the parameters of Utilitarianism) forced to take a job creating weapons of mass destruction, since the balance-sheet of utilities shows that if George refuses, a far younger, more zealous chemist will carry the project along even further and more efficiently than George.While these scenarios may seem like far-fetched constructions meant to reveal Utilitarianism pursuing the wrong choice, Williams conversely (perhaps begrudgingly) admits that these would be the â€Å"right† choices for the given circumstances. The true problem, he argues, is 1? CITATION? 112? 2? CITATION? 113? ? hat the emphasis should not simply be on the â€Å"rightness† of the action but the considerations involved in reaching that conclusion. This is a feature of Utilitarianism Williams claims â€Å" cuts out a consideration which for some others makes a difference to what they feel about such cases†. 3 He continues to explain that excluding such considerations denies our sense of personal accountability for our own actions and in turn â€Å"makes integrity as a value more or less intelligible†. In sum, if we were to reduce William’s entire integrity objection to its most salient points, they would be the following: the emotional commitments that are incompatible with the parameters of Act- Utilitarianism are not only impossible to abandon entirely but are an integral facet of human happiness, therefore creating a dilemma for the Utilitarian in that they must allow for it. The potential defense of a Utilitarian to Williams’ objection begins with the examination of his construction of integrity, which he seems to define as one’s â€Å"sense of self†.Looking simply at this definition alone, it could be said that subjectivity suggested with this variety of integrity incorrectly presupposes that a person’s sense of their identity is always correct. Utilitarianism could make a claim for the value in assessing reality with the sort of impartiality that Williams’ rejects, seeing as if one is not being appraised objectively, their sense of self is entirely contingent on their own conception.More importantly, and the crux of the Utilitarian defense, is that while Williams’ is correct in his claim that abandoning these emotional entanglements is counterintuitive, maintaining such commitments are at odds with the human desire for self-preservation, a 3? CITATION? p99? 4? CITATION? p99? ? conflict that Utilitarianism not only recognizes but Williams does not offer any viable solution for.Based on his examples and criticisms of Utilitarianism, it could be inferred that Williams assumes that we have a moral obligation to help others in a time of crisis, that one has an inherent responsibility to compassion a nd benevolence. This is clearly in conflict with the Utilitarian theory that one’s responsibility is to maximum utility, so even if the Utilitarian were to concede to Williams objection, it would be implausible to imagine a scenario in which the two could be regarded as being of equal value.In turn, the only option available to maintaining this ethos of selflessness would be to regard it as superior to maximum utility. This, a Utilitarian could argue, could prove to be extremely problematic. Firstly, it is extremely unrealistic to assume that people have the capacity to function entirely out of selflessness. Even though benevolence and emotional attachment can provide a certain level of happiness and fulfillment to a person, the expectation to unilaterally value the welfare of others over our own is not only implausible but ultimately self-defeating.Abandoning or betraying commitments in order to further advance a larger more important agenda certainly isn’t an idea pa rticular to Utilitarianism. A quick browse of a history textbook would support that, by and large, humans are inherently self-serving and while one may commit to an act, cause or person, it does not necessarily mean that they themselves aren’t using such relationships for their own agency. Utilitarianism may require that a person abandon a particular commitment for the sake of the reater good, but it can certainly be said that in the absence of utilitarianism, the commitment could be abandoned anyway, except in this case it would be for a self-serving purpose. A Utilitarian could potentially argue that their moral theory simply recognizes and curbs the inwardly focused desires of mankind and attempts to redirect such motivation toward the greater good. One could argue that Williams’ is somewhat disillusioned with mankind as he makes sweeping idealizations of the human psyche.Williams’ examples of â€Å"Jim† and â€Å"George† seem to both be conting ent on the idea that what makes said examples disconcerting is premise that both men would be acting against their conscience, in turn making the assumption that all people have consciences that should be considered. Secondly, if one could clear the hurdle of the first argument, the actual implementation of such a theory is extremely difficult. Williams argues that Utilitarianism is far too demanding to be plausible but in fact, trading this impartiality for benevolence proves to be far more exhausting.Considering the world’s current state of affairs, there are always people in dire need of help, so one calls into question exactly what parameters would be set in place in order to orchestrate such a society. What would be the stipulations of a worthy recipient of another’s benevolence? If Williams was simply talking about people’s obligation to those close to them, valuing those relationships above maximum utility creates a bias that is even more incompatible wit h benevolence than Utilitarianism, which at least works in the interest of the entire population.A Utilitarian could also argue that it simply because they are outweighed by maximum utility does not mean that substantial relationships are not valued in Utilitarianism. While they are indeed lower order projects, a Utilitarian could make an argument that it is through maintaining such relationships that the value of one’s own welfare is realized and are only outweighed by serious interests of first order projects.The analyses above reflect the same conclusion. Williams’ objection brings to light shortcomings in Utilitarianism that are easily felt by those uncomfortable with the impartial and seemingly unfeeling Utilitarian mentality. However, the arguments put forth by Williams regarding the counterintuitive and overly demanding nature of impartiality neglect the similarly inherent and insatiable desire for self-preservation.

Friday, January 3, 2020

Copyright Challenges Of The Modern Digital Economy Essay

Question: Identify and discuss these copyright challenges in the modern digital economy using examples from case law. Examine the recommendations made by the ALRC for the introduction of ‘fair use’ in Australia? Fair use is a defense to copyright infringement that essentially asks of any particular use; Is this fair? Do you think that this reform will promote innovation and enable a market-based response to the demands of the digital age? Word Count: 1728 The term ‘fair use’ is defined by Hudson as the use of copyright material without permission from the owner for purposes that are deemed fair. In the digital economy however, new challengers arise with ‘fair use’. These challenges are due to the complex and changing nature of the digital environment, and the need for the law to remain relevant, and be clear and broadly understood in the community. Secondly, the purpose of copyright law is to stimulate creation and learning by providing incentives to create and distribute. Therefore, it is important that reforms do not change the fundamental objectives of the copyright law. The ALRC has made recommendations outlining implementation of ‘fair use’ legislation in Australia, which is intended to outline the purpose and character of copyright material that may be used without permission from the owner. The purpose of the ALRC report is build a fair and reasonable legal guidelines where copyright mater ial can be used fairly for purposes that may not infringe copyright.Show MoreRelatedThe Importance of Internet Regulation in Fighting Piracy and Enforcing Copyright Claims1710 Words   |  7 PagesInternet Regulation in Fighting Piracy and Enforcing Copyright Claims In 1980s, the Internet developed, and this brought about the growth of the file transfer protocol (FTP) servers, electronic mail (e-mail), and World Wide Web (WWW) as online services. The development has caused major challenges for copyright law. 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