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Family members who either own a business or who could inherit ownership in a business are helped to clarify how they would like to have the business owned in the future.

The Central Intelligence Agency establishes a venture-enabled fund, In-Q-Tel, to allow it to access cutting-edge technologies. Fund managers face a variety of difficulties, some similar to those facing other institutionally affiliated venture funds and some unique.

Describes the issues facing a founder-CEO regarding building a board of directors, assembling an executive team, managing tension between co-founders, and outsourcing system development work.

The development of a new venture partnership and the challenges associated with raising its first fund are chronicled. The decision to focus on early-stage investments, the determination of the appropriate size of the fund, the fund-raising process, and the steps in closing are all examined. Also presents information on the relationships among the five partners, the division of responsibilities, and the compensation package. Provides personal background on each of the partners and explores their motivation for choosing this career change at this particular moment in their lives.

Spreadsheet supplement for case 804129.

Supplements the (A) case.

Describes the dilemma facing Chris Masterson, the head of HSBC's private equity division, in negotiating this team's buyout of its organization from HSBC, its corporate parent since 1992. Discusses the pros and cons of being a captive fund and the delicate balance among many interests--limited partners, team members, the parent, and the investee companies--that must be maintained.

David Fischer is trying to raise $200 million for a first-time venture debt fund that will be affiliated with Silicon Valley Bank, a major technology lender. Despite his lengthy experience in venture lending, the process is proving difficult. He and his partners are considering whether to continue trying to raise the full amount or to close a smaller sum that is readily available and prove the model before trying to raise a larger fund. In making their decision, the partners must consider the structure of the fund and the value added by their links to the bank as well as how to counter conflict of interest concerns raised by the potential limited partners.

Describes the turnaround of America Latina Logistica, a $200 million revenue, formerly state-owned, railway in Brazil that has been restored to profitability by its CEO, a recent MBA graduate. After successfully transforming the company's operations, finances, and organization, the CEO must decide whether to acquire a trucking company and offer integrated logistics solutions to customers or stay focused on its core business of rail transportation. Provides rich data describing the details of the company's turnaround and also provides sufficient industry and financial data to analyze the strategic and financial implications of the proposed merger.

The case covers the use of partnerships by a business development group of Motorola to gain quick access to new, complementary technologies and highlights how Motorola manages collaborations with smaller, entrepreneurial firms. The case ends with questions about how Motorola will jockey for position in an ecosystem formed by its customer, BT. customer's ecosystem, which regrouped firms such as Vodafone, a mobile operator, and Ericsson and Alcatel, competitors in some of Motorola's markets.

Maxxium (A) covers the creation and growth of the wine and spirits distribution joint venture formed in 1999 by three different producers: Highland Distillers of Scotland, Jim Beam Brands of the USA, and Remy Cointreau of France. It highlights tools and principles that the top management team developed to guide its relationship with its shareholders, as well as with 3rd party brands that use their distribution network.

This case study highlights the different aspects of succession. It describes the issues that affect the departing CEO. It considers the organization, and the background of internal and external candidates for succession. It also treats the issue of non-executive board-members and their preferences.

This case addresses several issues dealing with entrepreneurship, including identification of opportunities, valuation, and most importantly, partnership splits among founding partners.

Supplements the (A) case.

This case chronicles the evolution of Adam Aircraft, a highly innovative, entrepreneurial, start-up company that flew in the face of conventional wisdom in the general aviation market. Its founder, Rick Adam, had orchestrated the fabrication of two flying prototypes--the A500 twin piston and the A700 jet--at a speed of design and production that turned heads in all sectors of the aviation industry. Certification on both models was expected in the coming year--two years ahead of a number of well-funded competitors. With its third product--the A600 twin turboprop--nearly ready to fly, Adam Aircraft had become the one to watch in 2004.

DayOne opened for business in January 2001. The first store, located in San Francisco, provides products and services to prenatal and postnatal parents and their babies; it was an immediate success with customers. Now Andrew Zenoff, founder and CEO, wants to grow his venture into a national chain of DayOne centers, providing essential services, products, and community to first-time parents, but has not yet raised the needed money. This is Zenoff's second startup.

On March 27, 2000, Jamie Dimon was hired as CEO to turn around Bank One. Describes the issues he faces, as he prepares to present an action plan to the board.

To distribute only after discussion of HBS case 9-804-107. Describes the decisions made by Jamie Dimon as the new CEO in July 2000 and summarizes the progress of his turnaround over the next three years.

Describes the early development of the Segway Human Transporter and focuses on the organizational issues that arise between the parent company and the new company that is being spun out to produce and market the Segway. Key issues are the distribution of bonuses and stock options.

Irving Tanning, one of the few remaining U.S. leather tanneries, has successfully emerged from bankruptcy. The CEO is now looking at strategic options for the future of Irving.