Final answer:
Venture teams generally have the authority to execute plans for product development, making the statement true. The claim about proprietors in proprietary colonies only collecting profits is false; they had several responsibilities. It's also true that colonial governors could veto legislation, and that majority rule might not produce a clear outcome with multiple choices.
Step-by-step explanation:
A venture team has the authority to execute plans for the development of products. This statement regarding a venture team is generally true. Venture teams within corporations or startups are typically assembled with the purpose of developing new products, processes, or businesses. These teams are given the authority and autonomy to make decisions and execute plans that are essential for the innovation and development process.
In a proprietary colony, the Proprietors have no responsibilities except to collect the profits. The statement is false. Proprietors in a proprietary colony had various responsibilities including the governance and administration of the colony, maintenance of peace and order, and ensuring the colony was profitable and sustainable.