Business Chap 5 vocab
Sponsorship
A form of cause related marketing in which a business sponsors a community event or service in exchange for advertising
Fair use
Allow use of copyrighted work without permission or payment
Intellectual property
Artistic and industrial creations of the mind
Executive summary
Brief summary of the business plan's key selling points of the investment opportunity
Patent
Exclusive right to make, use, or sell a device or process
Ethics are a set of ______ Principles that govern decisions and actions
Moral
A business creates transparency by ______ with people inside and outside the company about its decisions and actions
Openness and accountability
Conflict of interest
Personal considerations and professional obligations that interfere with each other
Ethics
Set of moral principals that govern decisions and actions
Business plan
Statement of your business goals, and details on how you are going to achieve them
Public Domain
Status of creative works for which the copyright or patent has expired
Trademark
Symbol that indicates that the use of a brand or brand name is legally protected and can not be used by other businesses
Copyright
The exclusive right to perform, display, copy, or distribute an artistic work
Social Responsibility
When businesses act in ways that balance profit and growth with the good of society
Integrity
being honest and having strong moral principles
Business ethics
moral principles applied to business issues and actions
Transparency
openness and accountability in business decisions and actions
Whistle Blower
people who report illegal or unethical behavior
Business risk
possibility of loss that comes with operating the business
Universal values
values shared by all cultures throughout history
Infringement
violating the rights provided by a copyright or patent