Invention and innovation
Invention
A product or process that does something that has never been done before
Idea Driven Enterprise
A venture that begins as a result of an invention or innovation
Market Venture Enterprise
A venture that begins with an idea about the marker rather than about a product
Feasible Venture
A venture that has the potential to succeed
Trademark
A word, symbol, or design, or a combination of these, used to distinguish one company's goods or services from others
Trade Show
An exhibition where a large number of manufacturers and distributors of a particular type of product show their goods
Market Segment
Any part of an overall market that has common characteristics
Venture Capital Markets
Bring inventors together with financial investors who are interested in developing new ideas
Copyright
Gives someone the exclusive right to publish, produce, sell, or distribute works of literature, music, art, and software
Patent
Gives the holder the sole right to make, use or sell an invention for a set period of time, preventing others from using it without permission
Licensing
The inventor allows another business to use his or her invention for a fee.
Innovation
Using new technology, materials, or processes to improve on existing products, or how they are produced and distributed
Royalty
aka the fee for using ones invention (see licensing above), can be either a fixed amount or a percentage of the total sales revenue that the user pays the patent or copyright owner
Product Mapping
an activity that allows the entrepreneur to visualize all the products or services that are available in a particular segment and to group them by specific features