ESB Vocabulary Flashcard #4

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Owner:

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The individual(s) that own the business.

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What are partners in a business context?

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Two or more individuals that share a business's financial responsibility.

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Patent:

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A legal method used to protect an invention for a limited time.

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Piece Work:

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A type of compensation provided for the amount of work produced.

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Pitch Deck:

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A presentation given to potential investors to provide a brief overview of the business plan to earn another meeting.

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Price:

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The amount of money charged for goods or services.

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Primary Data:

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First-hand research like surveys, interviews, and statistical data.

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The process of coming up with solutions to solve a problem.

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Problem-Solving

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What is a product?

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A tangible item.

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Product/Market Fit:

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The stage where a business's sales are high and continue to grow because their product or service is something customers want and continue to purchase.