Intellectual Property
The exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material, and to authorize others to do the same.
What is copyright?
Observe, engage, and be in tune with customers to understand their experiences and needs.
What is the Empathize Stage?
The first step in the sales process - creating potential leads and conducting preliminary research.
What is prospecting?
A business is up and running.
The amount earned as a percentage return.
What is return on investment?
A government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention.
What is a patent?
The design team develops innovative solutions that will provide the best customer satisfaction.
What is the Ideate Stage?
Making first contact with the client.
What is approach?
Business takes on new customers and starts to generate income.
What is survival stage?
The pace at which a new company is running through its startup capital.
What is burn rate?
A symbol, word, or words legally registered or established by use as representing a company or product
What is a trademark?
The design team reviews and refines the product.
What is the Test Stage?
Listen to potential customer concerns and addressing them.
What is handling objections?
CEOs, COOs, and CFOs come into play because the business is economically healthy.
What is the success stage?
Tracking the costs to obtain new customers.
What is customer acquisition cost?
What is a trade secret?
Analyze observations and information gathered during the empathize stage.
What is the Define Stage?
Keeping in contact with the customer to ensure satisfaction and repeat business.
What is follow-up?
Owners make a profit from selling their ownership.
What is exit plan stage?
Th point at which total cost and total revenue are equal.
What is break even point?
The length of protection (time limit) for a patent.
What is 15-20 years?
Basic functioning products that address the user's core problem.
Client makes decision.
What is closing?
Owners separate financially and operationally from a business.
What is resource maturity stage?
The cost to keep current customers rather than acquire new ones.
What is customer retention cost?