The state of being bankrupt. - Bankruptcy, The action of working with one or more people toward a common goal - Collaboration, Using one’s mind to solve a problem in the best way by considering various potential solutions to the problem. - Critical Thinking, Standards of professional conduct professionals should uphold - Ethical Practices, Thinking about and planning for the future - Forward-thinking Mentality, The characteristics of being able to tackle goals with courage and perseverance. - Grit, Believing that one can accomplish anything with hard work. - Growth Mindset, A characteristic in which individual acts to turn ideas into actions. - Initiative, A new idea, product, or method. - Innovation, A minimum viable product (MVP) is an inexpensive preliminary product to test the product idea. - Mvp, One’s ability to act to work toward achieving a goal. - Personal Agency, The process of coming up with a solution to solve a problem. - Problem-solving, One’s ability to adapt to change, loss, and disappointment. - Resiliency, The level of willingness to lose time and money when starting a business. - Risk Tolerance, Trustin gone’s self, goals, and progress. - Self-reliance, A tax or duty to be paid on a particular class of imports or exports. - Tariff (May Have To Google), A general increase in prices and fall in the purchasing value of money - Inflation (May Have To Google), A situation an entrepreneur analyzes and evaluates to see if starting a sustainable, profitable business is feasible. - Business Opportunity, A one-page document discussing key information commonly seen in a business plan. - Lean Canvas, A form of communication between businesses and customers which relays a message promoting services and/or goods. - Marketing, A presentation was given to potential investors to provide a brief overview of the business plan to earn another meeting. - Pitch Deck, Fees paid for the use of a brand name or image. - Royalty Fees, A persuasive speech is prepared to entice a potential customer to purchase a service or good. - Sales Pitch, A form of protection individuals can implement to protect their intellectual property. Copyright is designated for print, music, film, and various other forms of creative licenses. - Copyright, A creative work or invention to which an individual has been given rights. - Intellectual Property, A written plan that outlines a company’s marketing strategies. - Marketing Plan, A legal method is used to protect an invention for a limited time. - Patent, Prohibits other companies from making or selling a form of someone else’s utility products - Utility Patent (May Have To Google), A right that protects a new and unique plant’s ley characteristic from others - Plant Patent (May Have To Google), A practice used to protect brand names, logos, and business names. - Trademark, A practice used by businesses to protect a practice, process, or formula from being shared with other competitors. - Trade Secrets, Calculating and examining an entity based on the revenues collected and associated costs. - Breakeven Analysis (May Have To Google), A building in which a state legislative body meets. - Capitol (May Have To Google), The method of sharing a start-up business online to pre-sell products. - Crowdfunding, A plan proposed of the future of the company in profits and goals - ​​vision And Value Proposition (May Have To Google), A design for the successful operation of a business, identifying revenue sources, customer base, products, and details of financing. - Business Model (May Have To Google), A tangible item a business owns. - Asset, The amount of money owed to an entity. - Liability,

ESB Lesson 1.2 - Vocab

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