the timing of the availability of tax forms from taxing agencies and the ability of those agencies to receive electronic tax return submissions. Delays in the availability of tax forms or the ability of taxing agencies to receive submissions could cause revenue to shift between its fiscal quarters. These seasonal patterns mean that its total net revenue is usually highest during its second quarter ending January 31 and third quarter ending April 30. The company reports losses in its first quarter ending October 31 and fourth quarter ending July 31, when revenue from its tax businesses is minimal while core operating expenses, such as research and development continue at relatively consistent levels. Intellectual Property The company has various registered trademarks that include Intuit, QuickBooks, TurboTax, Lacerte, ProSeries, Quicken, and Mint. It has registered these, and other trademarks and service marks in the United States, and depending on the relevance of each brand to other markets, in various foreign countries. Competition Small Business Group: The company’s small business products and services compete with The Sage Group plc. In its payroll business, the company competes directly with Automatic Data Processing, Inc. and Paychex. In its merchant services business, the company competes directly with financial institutions, such as Wells Fargo Bank, JP Morgan Chase, and Bank of America; and with payment processors, including First Data Corporation, Elavon, Global Payments, and FIS-Certegy. Consumer Tax: In the private sector, the company competes with H&R Block. It also competes with 2nd Story Software’s TaxACT. Accounting Professionals: The company’s Lacerte professional tax offerings compete with CCH and Thomson Reuters. Significant Events In January 2013, Verizon Wireless and Intuit Inc. announced a strategic alliance to give all small businesses - from the sole proprietor to a medium-sized business - the ability to process credit card payments on smartphones and tablets. History Intuit Inc. was founded in 1983. The company was incorporated in California in 1984 and reincorporated in Delaware in 1993.