New businesses

high-tech business

new, fast-changing technology that can help almost any kind of company

innovation adoption lifecycle

It's a way to describe how people (or businesses) start using a new product or technology

5 types of ppl in order innovation adopotion lifecycle

1. Innovators (2.5%)

2. Early Adopters (13.5%)

3. Early Majority (34%)

4. Late Majority (34%)

5. Laggards (16%)

start-up unicorn

a young company that's worth over $1 billion dollars

USP

Unique selling point, what makes them stand out from other businesses

it was touch and go

a desired outcome that is possible but very uncertain

PLC

public limited company, a company whose shares can be bought and sold by anyone on the stock market

non-profit

focused on a goal, not on profit

life-span

duration of working/ lifetime

venture capitalist

someone who invests money in start-ups in exchange for a piece

joint venture

two or more companies agree to work together on a specific project or create a new business together

what is Kickstarter

a crowdfunding website where people can share their ideas

patent

the offical right to make or sell an invention for a particular number of years

copyright

the legal right to control the production and selling of a book, play, film, photography or piece of music

trademark

a name or symbol on a product that shows it was made by a particular company and that it cannot be used by other companies without permission

Intellectual property

legally guarding your ideas, inventions, or creations so no one can steal or copy them without your permission

apparel

clothing in general

garment

a piece of clothing

utilitarian

designeed to be useful or practial rather than attractive

incentive

something that motivates or encourages someone to do something

bottom line

net income or loss in a financial statement

coherent

forming a unified whole