Generating and protecting business ideas.

Sources of ideas for entrepreneurs, including franchise, copying ideas from other countries, identifying a market niche, spotting trends, and the scientific approach. Also outlines patents, trademarks and copyright. 

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Business Studies- Generating and protecting business ideas.
The following things are major sources of ideas for entrepreneurs:
Franchising means using an existing company's business idea and its name. The franchisor is
the business that owns the original company. It can give the right to another person or
another group of people to run a similar business, usually in a different area.
You buy the rights to sell somebody else's idea. The franchisor does not give this away for
free. They charge the franchisee a fee to buy the franchise and they also take a percentage
of the franchisee's profits.
For example; the body shop, Benetton, Kentucky fried chicken, MacDonald's and Burger king.
Copying ideas from other countries-
H. Shultz saw the coffee culture in Italy and thought it would work in America so he created
Starbucks as a place specifically to drink coffee.
Identifying a market niche-
Red letter company (company offering interesting presents)
Big feet ltd (shoes for big feet)
Identifying a market niche is where you discover a gap in the market and fill it with your business. For
example Big Feet Ltd is part of the shoe market however it branches off as a business specifically for
people with larger feet as the owner may have noticed there was room for this in the market.
Spotting trends-
This is tapping into what is happening in society around us or in the market and responding quickly to
these changes.
Innocent drinks; Growing desire for healthier lifestyles.
Innocent drinks were created soon after the 5 a day rule was introduced for everybody, one
small portion of the fruit drinks count for one of your 5 a day.
People clearly find innocent drinks an easier way to achieve their 5 fruit or vegetables a day.
The scientific approach-
Some entrepreneurs will spend time inventing new products
They can take a lot of time to produce the product but it is beneficial in the short term before
the idea is copied.
For example James Dyson made 5,127 prototypes before the final decision

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Business Studies- Generating and protecting business ideas.
There are many ways of ensuring that business ideas remain the property of the innovator or
inventor. The exact use of copyrights, patents or trademarks will tend to depend on what is being
A copyright is automatically granted to a writer or an artist, so a picture, drawing or description of
an idea automatically has copyright. It does not need to be registered and it lasts at least the
lifetime of the original author.…read more


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