Entrepreneurial Mindset
What is the amount of loss one is willing to take when making an investment decision?
Risk tolerance ?
What is an investment that allows a buyer to start a business, such as a franchise?
A business opportunity
What document is a one-page overview of a business that covers problems and solutions?
A lean canvas
What intellectual property law protects a company's formulas and processes?
Trade secrets
A company pays a fee and gets permission to use a trademarked logo. What is this called?
Licensing.
What kind of mindset means believing you can accomplish anything through hard work?
What is A growth mindset
What business opportunity involves recruiting marketers to join a team?
Network marketing
What is the purpose of a pitch deck?
To give a brief overview of the business plan, outline the business, what funding is needed, and financial projections.
Which law protects creative works like art, literature, and music?
A copyright
What type of fee is paid to the original patent owner when someone else uses and sells their invention?
Royalty fees.
What is an example of an environmental risk?
A natural disaster
What are the five factors that determine the viability of a business opportunity?
Market size, relationships, cash flow management, management skillsets, and passion
Which section of a business plan briefly explains everything in the plan?
The executive summary
Which law protects a brand name, logo, or business name?
A trademark
Name one risk or drawback of using licensed material
Needing to pay for permission to use the material.
Name one benefit of becoming an entrepreneur.
Choosing business hours, who to work with, or where to work
What type of agreement must one obtain to use a brand name on products?
A license.
What form is a pitch deck most commonly presented in
A slideshow presentation.
Which law protects an invention from being copied?
A patent.
What intellectual property law would best protect a secret banana bread recipe sold in a bakery?
Trade secrets.
What do entrepreneurs use to overcome obstacles?
Critical thinking?
Which viability factor involves researching the demand for products or services?
Market size
What element of a business plan should be specifically directed to investors and lenders?
The financial plan.
What do employees sign to agree not to share a company's trade secrets?
Confidentiality or non-disclosure agreements
What would best protect a new song you wrote from being copied?
A copyright