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