Generating and protecting business ideas

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definition of franchise
when a business (franchisor) gives another business (franchisee) the right to supply it's product
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Benefits of operating as a franchise
less risk, more likely to succeed, financing the business would be easier, relationship with suppliers are already established, support is paid for
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possible pitfalls of operating as a franchise
costs may be higher than expected, other franchise could give a bad reputation, no control on the business, if the franchisor fails so does the franchise
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defintion of copyright
legal protection against copying for authors, composers and artists
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definition of patent
an official document granting the holder the right to be the only user or producer of a product
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definition of trademark
signs, logos, symbols or words displayed on a company's product or on its advertising
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why is intellectual property a valuable asset to a business ?
can be sold or licensed as a source of income, competitive advantage, central to marketing and branding, innovation for customers
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Card 2

Front

Benefits of operating as a franchise

Back

less risk, more likely to succeed, financing the business would be easier, relationship with suppliers are already established, support is paid for

Card 3

Front

possible pitfalls of operating as a franchise

Back

Preview of the front of card 3

Card 4

Front

defintion of copyright

Back

Preview of the front of card 4

Card 5

Front

definition of patent

Back

Preview of the front of card 5
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