Develop an idea or a product that can satisfy a need, and respond to the need by establishing a business concern.

The result of consumer dissatisfaction to the existing product could open the door to introduce innovations or improvements.

Entrepreneurs should be able to recognize the opportunity to develop a product and set trends that can make them leading entrepreneurs.

There is no other way to know about what is happening around you, but to research and read.

Anybody can question the relevance or quality of any product or services, provided, that there is an effort to improve the product.

If you have the idea, study it and develop it to something that is worth a business.

If the idea is clear and viable, there should be clear options for the business out of the idea.

Ideas should be a solution to an existing problem of the consumer or the market in general.

This is an important fact in decision-making process; most business failed because of lack of information.

An idea that is worth pursuing into a business is one which has a long-term purpose and not only a fad.

Venture into a business by using your own ideas.

The market needs and demands will not be far from what is happening in the past, so it is better to get information about the past, present, and future.

Know the needs of your market and all the factors that affect the buying process. Your idea will depend on this.

It specifically provides that a signer will not share the idea to anyone. This is a typical agreement or contract where one should ask advise to a patents attorney or those with experience and expertise in the intellectual property rights.

These gives the inventor exclusive legal rights to exclude anyone else from manufacturing, selling, importing, or using an invention during the life

This is a word, name, symbol, or device used by manufacturers on merchants to identify their goods and distinguish them from others sold in the market. This should be sed in conjunction with a business or a product, otherwise, this will not be granted.

protects the creative works of composers, authors/writers, artists, and others. This is the easiest form of protection for Intellectual Property.

creating change or orientation or direction

developing an entirely new product or opening a new market

changing the formal structure, reorganizing or introducing a new structure

introducing a new process, procedure, or technology for continued use

A form of business organization initiated, organized, owned or capitalized and managed by a single person

An association of two or more business partners who co-own a businessfor the purpose of making a profit

one who shares ownership and management of the business and is liable to the extent of his separate property after all the assets of the partnership are exhausted.

partners with limited financial liability and they do not take active role in the management of the firm.

are those not taking active role in the operation of the business but are generally known to be partners of the business.

are neither active in the partnership nor they are generally known to be associated with the business.

a partner who contributes money or property to the common fund of the partnership.

the partner who designated to manage the operations of the business of the partnership.

the partner who contributes his knowledge or personal services to the partnership.

a partner who takes active part in the business but is not known to be a partner by outside parties.

a partner who is actually not a partner but is held out or represented as a partner.

a partner who is designated to wind up or settle the affairs of the partnership after dissolution.

Its owners are the stockholders orshareholders who can sell their interestsin the corporation without affecting the continuity of its operations

a duly registered association of persons, with a common bond of interest, who have voluntarily joined together to achieve a lawful common social or economic end