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Biz Innovator Unit #

Opportunity Recognition/ Intellectual Property

TermDefinition
Idea Has the potential to make money.
Oppurtunities Passed the test of planning
Patent Catergories Process, Machine, An Article of Manufacture, Composition of Matter
Design Patent 14 year Patent
Utility Patent 20 year patent
Copyrights Literary works, Musical works, Dramatic works, Pantomimes and choreographic works, Pictorial, graphic, sculptural works, Motion pictures, Sound recordings
Trademark Any word, name, symbol, or picture or device that a company uses to distinguish itself.
Competitive Advantages Formulas, Processes, Customer Lists, Software
Percentage of Patented Products on market 2-3%
Plagiarism Copying someone else’s work and presenting it as your own.
Fair Use A set of legal exceptions to copyright.
Competence Resource/Skills
Passion Willing to put in the long hours
Adaptability Opportunity meets customer need
Personnel and team Who provides key resources to other people in the business
Tolerance Risk/Reward/Success
Bootstrapping Starting with little to no capital.
Market Demand How much the product is wanted by the consumer
Target Market Who you are selling to
Demographics age, location, gender, income, education, marital status, family status, occupation, ethnic background
Psycho-graphics personality, attitudes, values, interests/hobbies, lifestyles, behavior
Created by: RAWalker
Popular Business sets

 

 



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