Time to Fold? Here's a Primer

By Tamara Monosoff of Entrepreneur.com



If you've taken your invention through the entire process of design production and to market, you've overcome many high hurdles. It probably never occurred to you that once your product hits stores, there could be insurmountable challenges, particularly if you face bankruptcy.

It's important for you to have the facts, because the odds of failing are even higher than the typical economic environment's odds of most businesses failing within five years.

There's a stigma surrounding bankruptcy that you need to overcome. Given that we spend most of our personal and professional lives trying to look good, and glorifying those who succeed against all odds, deciding to abandon the fight and openly acknowledge failure is something many of us find hard to do....