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Private enterprise -businesses owned by ordinary civilians, not the government.
Patent - the right to sole ownership of an idea or particular intellectual property.
Trademark - an icon, name or symbol that is used to identify a company or organization.
Copyright - the ownership of intellectual property that has been authored by an individual such as books, movies or music.
Competition - the process by which companies try to convince customers to purchase their products over competitors.
Price competition - a means by which businesses attempt to attract customers by offering lower prices than competitors for the same quality of goods.
Nonprice competition - factors other than price that business may use to make themselves more appealing to customers.
Monopoly - exclusive control over a product by one company.
Business risk - the potential for a business to lose money or fail.
Profit - money earned from revenues after the cost of expenses have been paid.
Supply - the quantity of goods producers are willing to create.
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