Generating and Protecting Business Ideas Flashcards

0
Q

Research and Development

A

The initial stage of the product life cycle during which a business invests in the generation and development of new ideas

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
1
Q

Business Idea

A

A potential business opportunity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Innovation

A

A new idea/invention which is launched into the market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Franchise

A

When one business (the franchisor) allows another (the franchisee) permission to trade using it’s name and products/services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Copyright

A

Legal protection for anyone who has produced work in literature, drama, music, art, recordings and broadcasts which prevent that work being copied without the permission of the owner

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Patent

A

Protection of an idea by granting the holder the sole right to use unique features of a new product or process for a fixed period of time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Trademark

A

Protects a feature that distinguishes a business such as words, pictures, logos and stops others copying it

How well did you know this?
1
Not at all
2
3
4
5
Perfectly