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chapter 3 vocab
| Term | Definition |
|---|---|
| Business Model | a company's plan for making a profit |
| Certificate of Authenticity | a written document that attests that an artwork is authentic, meaning that it was indeed created by the artist to whom it is attributed |
| Cloning | phenomenon where competitors replicate the strategies and business models of successful enterprises in an attempt to gain a competitive advantage |
| Competitor | all those who fight for the same customers’ spending power |
| Copyright | any work as soon as it’s created and fixed in a tangible form |
| Exclusive Rights | sole authority or privilege granted to an individual or entity to sell a particular product or service |
| Franchise | A franchise is a joint venture between a franchisor and a franchisee |
| Franchisee | A business owner who is licensed to operate a branded outlet of a retail chain |
| Franchisers | The owner of the franchise who grants the license |
| Idea Creation | creative process where entrepreneurs formulate original concepts that can be transformed into viable business opportunities |
| Mega-Business | It is synonymous with syndicate, globalist- or transnational capital. It refers to a corporation (normally fictional) that is a massive conglomerate |
| Patent | exclusive right, meaning the patent owner can decide who can use the patented invention and how |
| Signage | a company without signage might be missing important opportunities for branding, customer acquisition, and more |
| Trade Show | large-scale exhibition event |
| Trademark | Identifies the source of your goods or services |
Created by:
lsnow27
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