This board game teaches players about running a company and going through the IPO process. The objective is to be the first player to earn $50 million in the Management Race portion of the board after meeting the requirements to exit the IPO Race. Players start in the IPO Race, aiming to achieve $7.5 million in cumulative profit over 3 years or $10 million over 1-2 years. They then progress to the Management Race where strong financial management is key to avoid bankruptcy and be the first to reach the $50 million goal.

1. Playing the IP-ology game
IP-ology is divided into two parts. All players will first start at the IPO Race, following which they will
enter the Management Race once they have fulfilled the requirements.
OBJECTIVE
The objective of the board game is to teach the players fundamentals of running a company, as well as
the process for a company to go into IPO.
EQUIPMENT
The equipment consists of a board, 2 dice, 10 playing pieces and 50 factories. There are 10 Industry, 20
Risk, 20 Opportunity and 15 Q&A cards, an Answer Sheet and money chips.
SETTING UP THE GAME
1. Elect a person to act as a Banker. The Banker should be someone who is good at calculating and
keeping track of things. Banker is allowed to participate in the game too.
2. Shuffle the Event, Opportunity and Q&A cards. Place them face down on the game board in
their marked places.
3. Shuffle the Industry cards and deal randomly, face down, to each player.
4. The Banker will then distribute the amount of money stated on the card to each player.
TO BEGIN
1. Each player chooses their own playing piece. Player will also receive 5 red-colored factory
tokens.
2. Place the playing piece on the arrow marked “Start” on the IPO Race.
3. Players get to choose the order of play among one another.
4. The first player in the IPO Race will roll two dice on their turn. The player moves in a clockwise
direction the number of grids shown on the dice. Landing on the same grid as another player has
no effect on either player.
5. If the player lands on Event, Opportunity and Q&A, draw a card and read it out loud.
SPACES ON THE BOARD
INDUSTRY
Industry cards are given out at the beginning of each game to every player. These cards will
show players the industry that they are in and the estimated profit that the company will earn
annually. Players will receive the amount of money stated on the card at the start of the game
and at the beginning of each year.
RISK

2. The event cards include a variety of events that will affect a company. Depending on the event
written on the card, players will either lose or earn a profit. Players have to read the card aloud.
Some risk card may affect other players in the game too. Event expires when the next player
moves.
OPPORTUNITY
Opportunity cards are chances that may help the players in their quest to get out of the IPO
Race and be the first to win the game. On landing on Opportunity, situations will be given on the
card.
Q&A
Q&A cards are questions. Players who have drawn a Q&A card will have to answer the question
on the card. If the player answered the question correctly, they will receive a sum of money
stated on the card. However, if an incorrect answer is given, the player will lose a turn. Answers
to the questions can be found in the Answer Sheet.
BANKRUPTCY
A player is considered bankrupt when their company’s annual income is negative and does not
have the cash on hand to pay the expenses due (e.g. rental). If the player declares bankruptcy,
the player can redeem itself by:
A. Selling any number of assets owned (e.g. factory) to repay the debts incurred.
B. Taking up a bank loan – company must have the ability to pay off the bank loan.
If the player’s annual income still remains negative for 2 consecutive years, then the player will
be officially out of the game.
FACTORY
Players are only allowed to build a factory when they land on the “Factory” grid on the board or
picked up a card that allows them a chance to build a factory. By building a factory, it increases
the efficiency of a player’s company, allowing the players to manufacture products quickly and
reduces cost. Player will receive the sum of money stated on the grid or card every round if they
own the factory.
THE IPO RACE
The “IPO Race” is the spiral circle on the left side of the board, where companies try to meet the
requirements to be listed in the Mainboard. The goal is to get out of the IPO Race and onto the
Management Race. To get out of the IPO Race, players can choose to meet either of these 2
requirements:
1. Cumulative pre-tax profit of at least $7.5 million over the last consecutive 3 years, with a pre-tax
profit of at least $1 million in each of these 3 years.
2. Cumulative pre-tax profit of at least $10 million for the last 1 to 2 years.

3. THE MANAGEMENT RACE
The “Management Race” is the outer track of the game board, where companies who have listed on the
Mainboard play the race game. On the Management Race, the goal is to have strong financial
management, and avoid becoming bankrupt
HOW TO WIN
The first player to achieve $50 million on the Management Race wins the game.
RULES
1. During the preparation for play, the Banker shuffles the pack of Industry cards and gives one to
each player.
2. The Banker will then distribute the amount of money stated on the card to the players.
3. In the game, it is necessary for players to land on the “build a factory” grid in order to own a
factory.
4. In the event that a player is unable to pay off its debts and expenses and has a negative profit,
the player will be out of the game immediately.
5. At the end of the game, the player who managed to reach the "Management Race" and has a
profit of $50 million will win the game.
6. Every 3 rounds around either the IPO Race or the Management Race represent 1 year.