Entrepreneurship Key Terms

An individual who undertakes the risk associated with creating, organizing, and owning a business.

• Entrepreneur

• Entrepreneurship

• Business Ethics

• Code of Ethics

The process of starting and operating one's own business.

• Entrepreneur

• Entrepreneurship

• Business Ethics

• Code of Ethics

Applying principles of right and wrong to situations in the workplace.

• Entrepreneur

• Entrepreneurship

• Business Ethics

• Code of Ethics

A written description of the purpose of a company and the management's philosophy.

• Innovation

• Mission Statement

• Opportunity

• Small Business

Sometimes referred to as "mom and pop" businesses. Generally started to create jobs for the owners.

• Innovation

• Mission Statement

• Opportunity

• Small Business

A proposal that describes new business.

• Business Plan

• Executive Summary

• Start-Up Resources

• Capital

A brief description of the key points of the business plan.

• Business Plan

• Executive Summary

• Start-Up Resources

• Capital

Any name, symbol, figure, letter, word, or mark adopted and used by a manufacturer or merchant in order to designate his or her goods.

• Trademark

• Copyright

• Patent

• Capital

The legal right granted to an author, composer, playwright, publisher, or distributor to exclusive publication, production, sale, or distribution of a library, musical, dramatic, or artistic work.

• Trademark

• Copyright

• Patent

• Capital

The exclusive rights granted by a government to an inventor to manufacture, use, or sell an invention for a certain number of years.

• Trademark

• Copyright

• Patent

• Capital