Essay by joeblo4324University, Bachelor'sA, November 2014

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A) New Venture Summary

1. Problem

Theft is the act of taking, moving, or using something without the permission or knowledge of the owner. Larceny-theft is defined by the FBI Uniform Crime Reporting Program as the unlawful taking, carrying or leading of a possession that is the property of another without the use of violence. In 2012, there were an estimated 6,150,598 reported larceny-thefts in the U.S., and 514,920 reported larceny thefts in Canada with a total loss value of approximately $987 per person, accounting to over $6.6B nationwide. Aside from monetary loss, property theft can also result in victims feeling vulnerable, violated, angry, and anxious. Larceny-thefts make up the majority of property crimes in the U.S. at approximately 68.1%. There are two main objectives that a thief must complete in order to be "successful": obtain the property, and then proceed to sell the property, both without getting caught.[1: "Providing Free Legal Information and Representation to the Low Income Community since 1969."

Alberta Legal Information on Theft, Fraud And Possession Of Stolen Property. Web. 14 Oct. 2014. <http://www.slsedmonton.com/criminal/theft-fraud-posession/>.][2: "Table 5 Police-reported Crime for Selected Offences, Canada, 2012 and 2013." Government of Canada, Statistics Canada. N.p., 23 July 2014. Web. 15 Oct. 2014.][3: "Department of Justice." Property Crimes & Theft. N.p., n.d. Web. 15 Oct. 2014.][4: "Larceny- Theft." FBI. FBI, 26 July 2011. Web. 14 Oct. 2014. <http://www.fbi.gov/about-us/cjis/ucr/crime-in-the-u.s/2010/crime-in-the-u.s.-2010/property-crime/larcenytheftmain>.][5: Sutton, Michael. "Center for Problem-Oriented Policing." Center for Problem-Oriented Policing. Web. 14 Oct. 2014. <http://www.popcenter.org/problems/stolen_goods/#endref3>.]

There are six stolen good markets, giving thieves many outlets for selling stolen property. These resale markets include: commercial fence supplies, residential fence supplies, network sales, commercial sales, hawking, and eSelling. Thieves generally sell their stolen goods within 30 minutes of the robbery and prefer to do so in local markets. Due to the...