Deca Vocab

BUSINESS INCUBATOR

Provides workspace, coaching, and support services to entrepreneurs and early-stage businesses

PARTNERSHIP

Two or more individuals who operate a continuing business for profit. A partnership is legally regarded as a group of individuals rather than as a single entity, and each of the partners file their share of the profits on their individual tax returns

ANGEL INVESTORS

Individuals who back emerging entrepreneurial ventures, usually as a bridge to get from the self-funded stage to the level of business that would both need and attract venture capital

START-UP

A newly established business

ACCELERATOR

An organization or project that promotes or supports the fast growth of small businesses

BUSINESS VALUATION

An estimate of the worth of a business entity and its assets

ENTREPRENEURSHIP

The activity of starting businesses for profit

CORPORATION

A body that is granted a charter recognizing it as a separate legal entity having its own rights, privileges, and liabilities distinct from those of its members. The primary advantage of a corporation is that it shields its investors from personal liability for any losses a corporation may experience.

VENTURE CAPITAL (VC)

A type of financing where the startup offers up a partial ownership stake in the company for money. In some cases, the company may also relinquish control to executives the VC chooses, though often only for a limited period of time.

ACQUISITION

When one company takes ownership of another, usually smaller, company

PITCH

To propose a business idea, usually with the goal of obtaining a contract or funding

PROOF OF CONCEPT

An understanding about whether or not the an idea, product, or service is feasible and has potential

CROWDFUNDING

The practice of raising money online through many small donations from regular people, rather than one larger amount from an investor

TRADEMARK

A symbol, words, or a phrase officially registered for a company

UNICORN

A startup company, usually privately-held, which reaches a valuation of over $1 billion

MERGER

When two companies join together to become one company. Usually, a merger happens when both companies dissolve and form a brand new entity, although they could also just rename one company to include both

FLEDGLING

Refers to a company or startup that is young, lacking experience, and still struggling with their business ideas, business model, market, and products or services

MINIMUM VIABLE PRODUCT (MVP)

A version of a product or service with just enough features and value to be released to the public

VALUE PROPOSITION

A statement or promise of value of a given product or service, including features and benefits

LAUNCH

The event where a product or service is released to the public market

SOLE PROPRIETORSHIP

A business owned and operated by one person

OUTSOURCING

Obtaining goods or resources from a source outside of the company

LIMITED PARTNERSHIP

A business arrangement in which the day-to-day operations are controlled by one or more general partners and funded by limited or silent partners who are legally responsible for losses based on the amount of their investment

LIMITED LIABILITY COMPANY (LLC)

A legal entity that is not taxable itself and distributes the profits to its owners, but shields personal assets from business debt like a corporation

BUSINESS MODEL

A description of how an existing business or business idea plans to achieve success, make a profit, and create value

CAPITAL

Wealth or assets available to invest in a project or business

STRATEGIC ALLIANCE

A relationship between two companies that helps both companies reach their goals

PATENT

Authorization or license granted to an inventor that prevents others from making, using, or selling their invention

VENTURE

A risky project or business idea

COPYRIGHT

The exclusive legal right to use and reproduce literary, artistic, or musical material

UNIQUE SELLING POINT (USP)

A thing that stands out about a product or service over that of another company

INVESTOR

A person that puts money into a project or small business, with the hope of eventually receiving profit