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| Entrepreneur | An individual who undertakes the risk associated with creating, organizing, and owning a business |
| Copyright | The legal right granted to an author, composer, playwright, publisher, or distributor to exclusive publication, production, sale, or distribution of a literary, musical, dramatic, or artistic work |
| Business ethics | Applying principles of right and wrong to situations in the workplace |
| Code of ethics | A systematic set of rules and procedures used to guide the behavior of an individual, a business, or a culture |
| Innovation | A new or different product |
| Mission statement | A written description of the purpose of a company and the management’s philosophy. |
| Small business | Sometimes referred to as “mom and pop” businesses. |
| Discovery | The stage in which the entrepreneur generates ideas, recognizes opportunities, and determines the feasibility of ideas, markets, ventures, etc. |
| Demographics | Data that describes a group of people in terms of their age, marital status, family size, ethnic background, gender, education, and income |
| Concept Development | The stage in the entrepreneurial process in which the entrepreneur plans the venture |
| Resourcing | The stage in which the entrepreneur identifies and acquires the financial, human, and capital resources needed for the venture startup |
| Venture | A business undertaking involving risk |
| Actualization | The stage in which the entrepreneur operates the ventures and utilizes resources to achieve its goals/objectives |
| Harvesting | The stage in which the entrepreneur decides on a venture’s future growth, development, or demise |
| Business plan | A proposal that describes a new business |
| Executive summary | A brief description of the key points of the business plan |
| Start-up resources | Capital and resources needed to start a business |
| Capital | Wealth in the form of money or property, used or accumulated in a business by a person, partnership, or corporation |
| Trademark | Any name, symbol, figure, letter, word, or mark adopted and used by a manufacturer or merchant in order to designate his or her goods |
| Patent | The exclusive rights granted by a government to an inventor to manufacture, use, or sell an invention for a certain number of years willing and able to produce at different prices. |
| Entrepreneurship | The process of starting and operating one’s own business |
