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1. Patent

  • The cost of a decision as measured by the benefits foregone of the next best alternative
  • The right to be the only user of producer of a specified product or process
  • The process by which new businesses are formed in order to offer products and services in a marke
  • A word, symbol, or phrase used to identify a particular company’s product and differentiate it from other companies’ products
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2. Share capital

  • The movements of cash into (“inflows”) and out of (“outflows”) a business
  • The finance invested in a business (limited company) by the shareholders – part of the equity capital of a firm
  • Investment made by specialist funds to finance the launch, early development or expansion of a private company
  • The budget which sets out estimates of the likely demand for and value of the firms sales

3. Niche market

  • A smaller part of a larger market in which customers have more specific needs and wants.
  • Any place (e.g. physical, electronic) where buyers and sellers come together with a view to exchanging transactions
  • The process of dividing a market into smaller sections (segments) segmentation which contain customers with similar needs and wants
  • The resources (land, labour, capital, enterprise) that go into producing goods and services

4. Cash flow forecast

  • The movements of cash into (“inflows”) and out of (“outflows”) a business
  • A projection, usually by week or month, of the likely cash inflows and outflows in a business
  • The amount of a product or service that customers are willing and able to pay at a given time
  • A detailed plan of income and expenses expected over a certain period of time

5. Working capital

  • The income or sales that a business achieves in a period.
  • The difference between total sales and total costs
  • The amount of money that a business has available to conduct its day-to-day activities
  • Costs that vary directly in proportion to output

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