1E

Question 1

Business Concept

Answer 1

Business Concept is a brief outline of the business idea, its main selling activities and the feature that will provide it with a competitive advantage.

Question 2

Intellectual Property

Answer 2

Intellectual Property (IP) is an original creation of the mind that can be legally owned.

Question 3

Competitive advantage

Answer 3

Competitive advantage is a business having qualities or strategies that provide it with an edge over its competitors.

Question 4

Trademark

Answer 4

A trademark is legal protection for a business over the right of its name, symbols,colours,packaging or additional tools used to sell its product.

Question 5

Patent

Answer 5

Patent is a licence that provides a business with exclusive right to the use of innovative divices,methods and processes.

Question 6

Copyright

Answer 6

Copy right is a free and automatic protection used on original ideas such as writing art,sound,films an photographs.

Question 7

Domain Name

Answer 7

Domain name is a unique website address.