Types
Entrepreneur does business through the Internet.
DotCom
Business owned by more than 1 person
Partnership
Examples: Wendy's, McDonald's, Chick-Fil-A
Franchisor
Company that creates post-it-notes
3M
Spencer Silver died at the age of ___
80
Entrepreneur owns multiple businesses
Serial
Business ownership owned and operated by its members
Cooperative
Person licensed by a franchisor to operate a store
Franchisee
Glue was used for this first, but it was a failure
airplanes
Where did Art Frye hear about Spencer Silver's adhesive glue?
golf course
Company started for the greater good of mankind
Social Entrepreneur
Entrepreneur only contributes money but has no say in the business decision making
Silent Partner
Price to start a Chick-Fil-A
10,000
Department where inventions are made
R & D
He's a serial entrepreneur that owns Cheeseburger in Paradise and Krispy Kreme franchises.
Jimmy Buffett
An owner allows someone else to operate a branch of their business with a license.
Franchise
Ownership of business is separate from personal ownership.
Corporation
% paid from your sales to a franchisor
Royalty
Dr. Silver's partner in creating post-it-notes
Frye
You get this to protect your invention for 7 years so no one else can steal it.
patent
Type of Entrepreneur that's the most unlike an entrepreneur
Intrapreneur
An ownership that protects the owner from personal responsibility from a lawsuit
LLC
Flat Fee charged to buy the rights to a franchise
Start Up Fee
Silver's nickname...Mr. P_____________
persistent
Famous partners that started this famous ice cream brand. Their most famous flavor is "Cherry Garcia."
Ben & Jerry's