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Bizinnovator Unit 3

Opportunity Recognition and Intellectual Property

TermDefinition
Patents gives you exclusive right within the US to make, use , and sell your invention for a period of years
Design Patent ornamental design of a manufactured item
Utility Patent functional features of the invention
Copyrights Literary works, dramatic works, musical works
Trademark Any word (or words), name, symbol or picture or device that a company uses to distinguish its goods from someone else’s.
Trade Secrets Data or information not generally known in the industry that gives a business an advantage over the competition
Plagiarism Copying someone else’s work and presenting it as your own
Fair Use A set of legal exceptions to copyright
Opportunities can be implemented, has potential
Idea has the potential to make money
Market must fulfill customers’ needs or solve their problems
Clear Focus Ability to create a market barrier
ROI (gains-costs/costs)
Personnel Adding additional resources and skills
Bootstrapping Starting a company with very little capital
Composition of matter Patent category
Machine Patent category
An Article of Manufacture Patent Category
Process Patent Category
Profitable Making money from a project
Win-WIn A conflict where both parties gain
Variable inconsistent or having a non fixed pattern
Break-Even Where costs starts to be less than profits
Motion pictures Copyrights
Sound recordings Copyrights
Pictorial, graphic and sculptural works Copyrights
Service Mark Similar to a trademark
Trade Name Requires formal registration from the state and the US Patent and Trademark Office
Trade Secrets Manufacturing techniques/processes
Trade Secrets Computer software (source code), Customer lists
Created by: LPWarren
Popular Business sets

 

 



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