Don't Steal My Stuff
This form of IP protection is used to protect creative works
Copyright
The simplest type of business ownership, where one person owns and controls the business
Sole Proprietorship
This term is defined as a businesses opportunity to succeed
Viability
Cars, office furniture, and inventory are all examples of this type of asset.
Tangible
This document outlines the goals, strategies, and financial projections of a business.
Business Plan
A legal contract that protects confidential information from being shared with third parties
Non-Disclosure Agreement (NDA)
This type of organization is tax-exempt because it serves a public or charitable purpose
Non-Profit
These are the five factors that determine the viability of a business opportunity
Market Size, Relationships, Managing Cash Flow, Management Skillset, and Passion
You interview students around Oasis about their morning routines to design a new product or service. Which stage of the design thinking process are you in?
Empathize
This one-page tool helps entrepreneurs quickly map out key parts of a business idea, such as value proposition and customer segments
Lean Canvas
The Krabby Patty Secret Formula is protected by this form of IP protection
Trade Secret
This business structure offers liability protection and flexible management, and is often chosen by small businesses
Limited Liability Company (LLC)
These are 3 of the main forms a business opportunity can take
Franchise, Licensing, Network Marketing
Selling office furniture directly to corporations instead of individuals is an example of this model
Business-To-Business (B2B)
This is the first version of a product that includes only the core features needed to test the idea with real customers.
Minimum Viable Product (MVP)
Franchise
This type of corporation is taxed separately from its owners and can issue unlimited stock to shareholders
C-Corp
This form a business opportunity can take relies on representatives who earn money by selling products directly and by recruiting others to join the business.
Network Marketing
These are the 5 stages of the Design Thinking Process, and what each one represents
Empathize – Understand the user’s needs through observation and research.
Define – Clearly state the problem you want to solve.
Ideate – Brainstorm and generate as many creative solutions as possible.
Prototype – Build simple models or versions of your ideas to test them.
Test – Try out your prototype with users and gather feedback.
This tool is usually made up of 10–15 slides and is designed to persuade investors to fund a business idea.
Pitch Deck
These two things are needed to obtain authorization for certain forms of IP protection, such as a copyright.
2. Pay a licensing fee
This type of corporation avoids double taxation by passing profits and losses directly to its shareholders
S-Corp
This is the main difference between a stakeholder and a stockholder
Stakeholder : has a vested interest in the business
Stockholder : owns shares of a business
These are the 7 stages of the business life cycle in order, and what each one represents
Existence – The business is just starting out and proving that the idea can work.
Survival – The business focuses on staying afloat, covering costs, and keeping customers.
Success – The company is profitable and stable, with consistent operations.
Takeoff – Rapid growth stage where the business scales quickly and needs strong management.
Maturity – The company is well-established, growth slows, and efficiency is key.
Pivot or Persist – The business must decide to adjust its model (pivot) or continue as is (persist).
Exit Plan – The owner chooses to sell, close, or pass the business on to others.
Name two differences between a business plan and a lean canvas
1.) Business Plan = Long, Lean Canvas = 1 Page
2.) Business plans are detailed and formal, Lean Canvas is more informal and used to be a quick overview