Which of the following is true about co-opetition? 1) the term co-opetition was coined by bill gates, the founder of software firm microsoft. 2) firms engaged in co-opetition can be described as "frienemies" - part friends and part enemies. 3) firms engaged in co-opetition compete in activities located far in the value chain from customers. 4) it views competition and cooperation as two separate and distinct processes. 5) firms engaged in co-opetition must cooperate in activities that occur close to customers.

Christopher kim, cfa, is a banker with batts brothers, an investment banking firm. kim follows the energy industry and has frequent contact with industry executives. kim is contacted by the ceo of a large oil and gas corporation who wants batts brothers to underwrite a secondary offering of the company's stock. the ceo offers kim the opportunity to fly on his private jet to his ranch in texas for an exotic game hunting expedition if kim's firm can complete the underwriting within 90 days. according to cfa institute standards of conduct, kim: a) may accept the offer as long as he discloses the offer to batts brothers.b) may not accept the offer because it is considered lavish entertainment.c) must obtain written consent from batts brothers before accepting the offer.