Acronyms/ Key Words
USP
What is Unique Selling Proposition?
Producing a product in a home market and shipping it to a foreign market.
What is Exporting?
The rate at which it is spending its capital until it reaches profitability. Usually tracked on a monthly basis.
What is Burn Rate?
Name two of the four forms of Feasibility Analysis.
What are
•Product/Service Feasibility
•Industry/Target Market Feasibility
•Organizational Feasibility
•Financial Feasibility
A grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for a specific duration.
What is a Patent?
FTC
What is the Federal Trade Commission?
An entity created when two or more firms pool a portion of their resources to create a separate, owned organization.
What a Joint Venture?
Finding ways to avoid the need for external financing or funding through creativity, ingenuity, thriftiness, cost cutting, or any means necessary.
What is Bootstrapping?
The study of a firm’s industry and determining the different target markets in that industry.
What is Segmenting?
Any word, name, symbol, or device used to identify the source or origin of products or services and to distinguish those product or services from others.
What is a Trademark?
USPTO
What is the United States Patent and Trademark Office?
Efforts taken within the firm itself, such as new product development, other product-related strategies, and international expansion.
What are Internal Growth Strategies or Organic?
The exchanging partial ownership of a firm, usually in the form of stock, in return for funding.
What is Equity financing?
How a business makes its product or service stand out as different and better than competitors in the customer's mind.
What is Unique Selling Proposition or Unique Value Proposition
A hidden or unpubished formula, pattern, physical device, idea, process, or other information that provides the owner of the information with a competitive advantage in the marketplace.
What is a Trade Secret?
ROIC
What is Return on Invested Capital?
A firm from one country builds a facility in another country, trains the personnel that will operate it, and turns over to owner when it is completed and ready to operate.
What a Turnkey Project?
Individuals who invest their personal capital directly in startups. Generally invest between $25,000 and $150,000.
What are Business Angels?
A low-budget approach to marketing that relies on ingenuity, cleverness, and surprise rather than traditional techniques.
What is Guerrilla marketing?
Two of the three basic requirements for a Patent.
What are Useful, Novel, and Not obvious?
STTR
What is Small Business Technology Transfer?
What is an Acquisition?
A financial transaction when a business sells its accounts receivable to a third party, at a discount in exchange for cash.
What is Factoring?
The four categories a firms marketing mix.
What are Product, Price, Promotion, Place?
What does a Copyright provide or grant?
Legal right to determine how the work is used and to obtain the economic benefits from the work.
The work must be in a tangle form, such as a book, operating manual, musical score, or computer software.