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EDD Lesson 1.1 Key Terms

AB
Closed-Loop RecyclingRecycling a material back to the same type.
CopyrightExclusive legal rights to reproduce, publish, sell, or distribute the matter and form of something (as a literary, musical, or artistic work).
DowncyclingRecycling of a material to a lower grade of physical or commercial value.
Ecological DesignA method of design that is environmentally benign and economically viable.
Engineering Design ProcessA decision making process (often iterative) in which the basic sciences, mathematics, and engineering sciences are applied to convert resources optimally to meet a stated objective.
EntrepreneurA person who organizes and manages a business undertaking, assuming the risk for the sake of the profit.
InnovationAn improvement of an existing technological product, system, or method of doing something.
Intellectual PropertyAny product of someone's intellect that has commercial value, especially copyrighted material, patents, and trademarks.
IntrapreneurA person in a corporation who is given the freedom and resources to initiate products, business ventures, etc.
InventionA new product, system, or process that has never existed before, created by study and experimentation.
LicensingThe granting of permission to use intellectual property rights, such as trademarks, patents, or technology, under defined conditions.
PatentA grant made by a government that gives an individual or a body the sole right to make, use, and sell an invention for a set period of time.
Provisional PatentA less expensive and detailed application that allows one year’s protection to provide time to further investigate or pursue licensing before filing a regular patent application.
RoyaltiesA share of the proceeds or product paid to the owner of a right, as a patent, for permission to use it or operate under it.
Sustainable DesignDesign that is environmentally benign, economically viable, and socially equitable.
Trade SecretAny device, method, formula, etc. known to the manufacturer who uses it but not to competitors.
TrademarkA symbol, design, word, letter, etc. used by a manufacturer or dealer to distinguish a product or products from those of competitors.

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