12 terms

3.01-03 Entrepreneur Terms

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Terms in this set (...)

Entrepreneur
An individual who undertakes the risk associated with creating, organizing, and owning a business
Discovery
The stage in which the entrepreneur generates ideas, recognizes opportunities, and determines the feasibility of ideas, markets, ventures, etc.
Concept Development
The stage in the entrepreneurial process in which the entrepreneur plans the venture, identifies needed resources using a business plan, and identifies strategies to protect intellectual property
Resourcing
The stage in which the entrepreneur identifies and acquires the financial, human, and capital resources needed for the venture startup, etc
Actualization
The stage in which the entrepreneur operates the ventures and utilizes resources to achieve its goals/objectives
Harvesting
The stage in which the entrepreneur decides on a venture's future growth, development, or demise.
Business plan
A proposal that describes a new business
Trademark
Any name, symbol, figure, letter, word, or mark adopted and used by a manufacturer or merchant in order to designate his or her goods
Copyright
The legal right granted to an author, composer, playwright, publisher, or distributor to exclusive publication, production, sale, or distribution of a literary, musical, dramatic, or artistic work
Patent
The exclusive rights granted by a government to an inventor to manufacture, use, or sell an invention for a certain number of years willing and able to produce at different prices.
Marketing Plan
How the business will make customers aware of its products/services.
Taxes
Are required of all profit making businesses. Many fees or dues are placed on businesses.