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____ is concerned with the process of commercializing or extracting value from ideas.
a. Problem identification
b. Creativity
c. Invention
d. Innovation
e. Marketing
____ is found if a trademark is likely to cause confusion with a trademark already
existing in the marketplace.
a. Infringement
b. Dilution
c. Counterfeiting
d. Trademark violation
e. None of these choices
The ____ is fundamentally the personality of the organization and forms the basis for
all the activities that the company undertakes.
a. process
b. founder
c. vision
d. culture
e. structure
The least important part of any financial plan is the assumptions on which it is based.
a. True
b. False
Offshore manufacturing is appropriate for all products.
a. True
b. False
The firm's ____ should be thought of as a business partner who can be a source of
information and networking; help make decisions regarding capital needs; and assist in
preparing pro forma operations and cash-flow analyses.
a. accountant
auditor
c. banker
d. board
e. None of these choices
As entrepreneurial firms achieve noticeable levels of success and a new industry grows,
it generally becomes more ____ as a result of so many firms competing for position.
a. stable
b. b. unstable
c. consolidated
d. fragmented
e. None of these choices
Nearly all valuation techniques rely on the analysis of the future market for the
company's products.
a. True
b. False
Entrepreneurial leaders have a distinct advantage over ____ leaders because they see
themselves as part of a team.
a. heroic
b. charismatic
c. visionary
d. both "heroic" and "charismatic"
e. both "charismatic" and "visionary"
When two or more people share the assets, liabilities, and profits of the business, the
legal structure is a ____.
a. sole proprietorship
b. corporation
c. partnership
d. limited partnership
e. None of these choices
Customer identification or discovery asks the question:
a. Who is the primary customer?
b. Who is the customer that will pay most?
c. Who is the last customer?
d. All of these choices
e. None of these choices
Often small businesses such as pizza parlors and boutiques are run as ____.
a. sole proprietorships
b. silent partnerships
c. general partnerships
d. nonprofit businesses
e. an LLC
The ____ protects inventors from infringers who would violate a patent by making
small, insignificant changes in the claims.
a. dilution act
b. infringement act
c. doctrine of fair use
d. doctrine of equivalents
e. None of these choices
Define incubators.
Briefly discuss what the presentation team should be concerned about when responding
to questions from investors.
Briefly describe a compelling executive summary and pitch.
Define the constants of success.
Why is a founding team more likely to be successful versus a solo, independent
entrepreneur?
What are the four components of an investment deal?
Describe the techniques that entrepreneurs can use to improve their personal selling
skills.
What questions should be answered to create a compelling executive summary?
How does an entrepreneur benefit from a proof of concept with a prototype?
