Entrepreneurial Process

Trademark

A brand that has exclusive legal protection for both its brand name and its design

Patent

exclusive rights over an invention

Entrepreneurial Process

the 5 stage process an entrepreneur goes through when creating and running a business venture

Copyright

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.

Step 3: Resourcing

the stage in the entrepreneurial process in which the entrepreneur identifies and ACQUIRES the financial human, and capital resources needed for the venture startup

Step 2: Concept Development

the stage in the entrepreneurial process in which the entrepreneur plans the venture, identifies needed resources (money, people, etc.) writes a business plan, and applies for patents, trademarks and or copyright.

Step 5: Harvesting

the stage in the entrepreneurial process when the entrepreneur decides on a venture's future growth and develoment

Step 1: Discovery

the stage in which the entrepreneur generate ideas, recognizes opportunities, and determines the feasibility of ideas, markets, and ventures feasibility - the state or degree of being easily or conveniently done

Step 4: Actualization

the stage in which the entrepreneur operates the ventures and utilizes resources to achieve its goals and objectives