Definitions
A legal agreement granting you rights to use a particular piece of intellectual property.
license
Feel, check, ___ , do.
plan
IRS
internal revenue service
Ford
Henry Ford
What chapter did we cover in this presentation?
Chapter 4
A payment to a licensor based on the number or value of licenses sold.
royalty
________ requires an entrepreneur to assess whether the situation faced is one that is the same as it has been traditionally or if it is changing.
the opportunity identification process
A in SCAMPER
adapt
Mark Zuckerberg
What room is this class held in?
Room 252
Searching and capturing new ideas that lead to business opportunities. This process often involves creative thinking that leads to discovery of new and useful ideas.
opportunity recognition
When using a process for organizing creative thinking in four steps, the ________ step of a creative thought involves exploring the problem or opportunity in all directions.
preparation
R in SCAMPER
rearrange
Walmart
Sam Walton
How many slides did we cover in this presentation?
22 slides
An approach to pricing, and a business model, that connects free and premium products or services. Typically a free version is offered and users have the option to pay to move up to premium features. Popular examples include Dropbox (5 GB of space for free, with more space or services at a price) and Angry Birds (free ad-supported version; paid version removes ads).
freemium
Deploy, ____, revise, repeat.
track
E in SCAMPER
eliminate
Berkshire Hathaway
Warren Buffet
How many seasons did Alex Trebek host Jeopardy?
37 seasons
An approach to business where the entrepreneur buys something at a severely reduced retail price (like clearance or closeout merchandise from a retailer) and then resells it (most typically online) at a price closer to the typical retail price.
retail arbitrage
Federal Labs is a centralized location for over ____ federal programs.
700
E in PSED
entrepreneurial
Sergey Brin, Larry Page
What number/letter configuration is painted on Dr. Welch's plane?
N4WB