- the ability to notice things that have been overlooked, without actually launching a formal search for opportunities
- Entrepreneurial-Alertness
- searching and capturing new ideas that lead to business opportunities
- Opportunity-Recognition
- valuable experience an owner gains by working for someone else.
- Work-experience
- the extent to which an idea is viable and realistic and the extent to which you are aware of internal and external forces that affect your business
- Feasibility
- To change products or services that already exist.
- Adapt
- Search for opportunities that arise when you get rid of something or stop doing something
- Eliminate
- A process producing an idea or opportunity that is novel and useful
- Creativity
- A legal agreement granting you rights to use a piece of intellectual property
- License
- The person or firm which is obtaining the rights to use intellectual property
- Licensee
- The person or organization offering the rights to use intellectual property
- Licensor
- A payment to a licensor based on the number of licensed items sold
- Royalty
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