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Small Business Encyclopedia

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Category: Inventing

Copyright

Definition: Exclusive legal rights that protect works of authorship, composition or artistry. A copyright protects the publication, production or sale of the rights to a literary, dramatic, musical or artistic work or computer program or to the use of a commercial print or label.

Intellectual Property

Definition: The ownership of ideas. Unlike tangible assets to your business such as computers or your office, intellectual property is a collection of ideas and concepts.

Invention

Definition: An object, process or technique that displays an element of novelty. In certain circumstances, legal protection may be granted to an invention by way of a patent.

Patents

Definition: A form of protection that provides a person or legal entity with exclusive rights for making, using or selling a concept or invention and excludes others from doing the same for the duration of the patent

Licensing

Definition: A business arrangement in which one company gives another company permission to manufacture its product for a specified payment

Prototype

Definition: A replica of a product as it will be manufactured, which may include such details as color, graphics, packaging and instructions

Trade Secrets

Definition: Information used by a business, which can be legally protected that is secret to the general public and is critical to the livelihood and success of a business

Trademark

Definition: Any symbol, word or combination thereof used to represent or identify a product. A service mark means the same thing, but identifies a service.

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No matter what business topic you're interested in, you'll find our category list is an easy way to navigate our small-business encyclopedia. From Accounting and Advertising to Location and Operations, every topic offers information on the terms that matter most. And if you can't find what you need here, our "Terms A - Z" list makes tracking down terms a snap.