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_____________ is a form of business ownership in which a firm that already has a successful product or service licenses its trademark and method of doing business in exchange for an initial franchise fee and an ongoing royalty.

Which of the following is an example of intellectual property?

The five-stage creative process, the flash of recognition, or what is sometimes referred to as the “eureka” experience, occurs in the ________ stage.

An opportunity has the following four essential qualities:

________________ is a company’s ability to meet its short-term financial obligations.

The ___________ is a short overview of the entire business plan.

Brian Sentry is starting a firm in the small industry that helps football teams discern whether a player has suffered a concussion.  The industry is still so new that no standard operating procedures have been developed.  The industry Brian Sentry is entering is an example of a(n) _______________ industry.

____________ are similar to economies of scale, except the advantage comes through the range of a firm’s operations rather than from its scale of production.

Kent Williamson owns a firm that manufacturers and sells electrical supplies.  He is currently trying to grow his firm through licensing and strategic alliances.  Kent is pursuing a(n):

A ___________ is a place within a market segment that represents a narrower group of customers with similar interests.