Procedures and Requirements for Starting a Business 11/29

Unit 2 Vocabulary

Explore key terms in Entrepreneurship

Business plan

A written document that outlines
the goals, strategies, and financial
projections for a business, serving
as a roadmap for its operations
and growth

Executive summary

A brief overview of a
business plan,
summarizing the key
points and highlighting
the potential for success

Start-up resources

The various assets, both tangible
and intangible, required to initiate
and support the operations of a
new business

Capital

Financial resources, such as
money and assets, that are
invested in a business to generate
income and facilitate its
operations

Trademark

A legally registered symbol,
design, or phrase that
distinguishes and protects a
particular brand or product

Copyright

The legal ownership and exclusive
rights granted to the creator of an
original work, preventing others
from copying or using it without
permission

Patent

A government-granted exclusive
right to an inventor for a new
invention, allowing them to
prevent others from making,
using, or selling the invention
without permission