Entrepreneurship Unit 1 Review

The first step in the entrepreneurial process is

• Opportunity Identification

• Development of the business concept

• Idea Generation

• Implementation of the concept

Sources of opportunities include

• Current markets

• Social stability

• Demographic changes

• Existing technology

Which of the following can be considered an exit strategy

• Licencing of rights

• IPO

• Liquidation

• Family succession

Which method of intellectual property protection ensures that the process of making a product is protected

• Copyright

• Branding

• Patent

• Industrial Design Rights

Which of the following ensures that original works of art are protected

• Copyright

• Trademark

• Patent

• Industrial Design Rights

Which of the following ensures that now one can copy the way a product looks

• Copyright

• Trademark

• Patent

• Industrial Design Rights

Organization that provides products or services to make money

• Business

• dot.com

• Kiosk

• Pharmacy

Amazon's logo shows a big lowercase A and a smile below it and says: "Smile". This is their?

• Brand

• Logo

• Word Marker

• Emblem

For the next 20 years, no one can copy my garage door security lock, no matter what someone says. This means I have a what?

• Patent

• Copyright

• Contract

• Form

In the SWOT system, seeing that people ages 55+ are looking to downsize to smaller homes. Is an example of what?

• opportunity

• Weakness

• Strength

• Threats