Scribd
Upload
31 views

Entreprenurial Development Assignment

This document discusses several topics related to entrepreneurship including: 1) It defines dedication and passion, explaining their etymologies. 2) It provides data on the number of startups in several countries worldwide ranging from 127 in Pakistan to over 5000 in India. 3) It distinguishes between an idea and an opportunity, noting that an idea must be developed and analyzed to determine if it represents a viable business opportunity. 4) It outlines the key differences between product patents and process patents, specifically that product patents provide stronger protection for inventors. 5) Finally, it defines the differences between licenses and permits, noting that licenses provide permission to engage in an activity while permits are often required

Uploaded by

SJ
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
31 views

Entreprenurial Development Assignment

This document discusses several topics related to entrepreneurship including: 1) It defines dedication and passion, explaining their etymologies. 2) It provides data on the number of startups in several countries worldwide ranging from 127 in Pakistan to over 5000 in India. 3) It distinguishes between an idea and an opportunity, noting that an idea must be developed and analyzed to determine if it represents a viable business opportunity. 4) It outlines the key differences between product patents and process patents, specifically that product patents provide stronger protection for inventors. 5) Finally, it defines the differences between licenses and permits, noting that licenses provide permission to engage in an activity while permits are often required

Uploaded by

SJ
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 7

“ENTREPRENEURSHIP

DEVELOPMENT ASSIGNMENT”

1.ETYMOLOGY OF DEDICATION AND PASSION


DEDICATION:
late 14c., dedicacioun, "action of consecrating to a deity or sacred use," from Old
French dedicacion "consecration of a church or chapel" (14c., Modern French
dédication) and directly from Latin dedicationem, noun of action from dedicare
"consecrate, proclaim, affirm, set apart," from de "away" (see de-) + dicare
"proclaim" (from PIE root *deik- "to show," also "pronounce solemnly"). Meaning
"the giving of oneself to some purpose" is from c. 1600. Sense of "an inscription to
a patron or friend prefixed to a literary or musical composition" is from 1590s.

PASSION:
late 12c., "sufferings of Christ on the Cross," from Old French passion "Christ's
passion, physical suffering" (10c.), from Late Latin passionem (nominative passio)
"suffering, enduring," from past participle stem of Latin pati "to endure, undergo,
experience," a word of uncertain origin.
Sense extended to sufferings of martyrs, and suffering generally, by early 13c.;
meaning "strong emotion, desire" is attested from late 14c., from Late Latin use of
passio to render Greek pathos. Replaced Old English þolung (used in glosses to
render Latin passio), literally "suffering," from þolian (v.) "to endure." Sense of
"sexual love" first attested 1580s; that of "strong liking, enthusiasm, predilection"
is from 1630s. The passion-flower so called from 1630s.
The name passionflower -- flos passionis -- arose from the supposed resemblance
of the corona to the crown of thorns, and of the other parts of the flower to the
nails, or wounds, while the five sepals and five petals were taken to symbolize the
ten apostles -- Peter ... and Judas ... being left out of the reckoning.
["Encyclopaedia Britannica," 1885]
2.NUMBER OF START UPS

Argentina - 408
Brazil - 1043
China - 535
Finland - 408
Israel - 793
India - 5432
Pakistan - 127
3.DIFFERENCE BETWEEN IDEAS AND OPPURTUNITY-

An idea as has been elaborated is conceptualized by an entrepreneur who brings it


to reality through a systematic and well articulated planning.
An idea can be transformed into a viable business before pursuing an idea into a
commercial opportunity; as an entrepreneur, you must analyze it critically by
bringing up all possible questions. He should try to expand his idea, brainstorm and
develop it considerably.
An opportunity is a good chance for advancement or progress. It is a favorable or
advantageous circumstance or combination of circumstances. It is an auspicious or
providential state of affairs or a suitable time.
All business opportunities are based on ideas, but most business ideas do not
represent authentic business opportunities. An idea is a connection between two or
more pieces of information, which only turns into an opportunity when there is a
need, problem and either actual or potential demand for a product or service, while
opportunities are ideas that will result in a successful business. It is true that the
first step to identifying a business idea will be to generate suitable ideas.
A business idea is just a conception or thought, without an actual plan, while an
opportunity is an idea with a plan. True opportunities are treasure, extremely rare
and exceedingly valuable.
4.DIFFERENCE BETWEEN PRODUCT PATENT AND PROCESS
PATENT-

A patent is defined as a statutory privilege granted by the government to inventors,


and to other persons deriving their rights from the inventor, for fixed years, to
exclude other persons from manufacturing, using or selling a patented product or
process. Hence a patent can be for a process or for a product.

There is strict divergence between product and process patent regimes. The
developed countries follow product patent system. On the other, process patent
system is preferred by the developing world. The two systems are known for their
different levels of protection to inventors.

Under a process patent, the patent is granted for a particular manufacturing


process, and not for the product itself. Any other person can produce the same
product through some other PROCESS, modifying the various parameters. The
implication is that there will be more than one producer for the same product
because of the possibility of different process for the manufacturing of the product.

Weakness of the process patent regime is that it gives less protection for the
inventor. There is high tendency for competitors to reengineer the original
invention by discovering a new process with less strain and investment. Benefit of
process patent regime is that it reduces the element of monopoly.

In the case of product patent, it is an exclusive right given to the original inventor
of a product. This means that no other manufacturer can provide the same product
through the same or any other process. The implication is that there will not be a
competitor for the producer as it is the product which is patented. Product patent
system gives higher level of protection to the inventor as there will not be any
other patent holder. TRIPs follow the product patent regime.

5.DIFFERENCE BETWEEN LICENSE AND PERMIT

License:
It is easy to understand the meaning of a license with the help of a driver’s license.
All of us require obtaining a driver’s license to be allowed to drive a motor vehicle
on the road. This license is obtained by us or rather granted by traffic authorities.
Thus, license is permission to drive a vehicle on the road while the paper document
with an official seal is the noun of the word license. Along these lines are business
licenses that an aspiring businessman is required to obtain if he desires to start a
particular business in a state inside the country.
A business license is a necessity as it grants permission as well as allows
government or authorities to keep an eye on the business and the businessman by
way of regulation and taxes that are applied from time to time. There are many
different types of licenses. However, the philosophy behind a license is always the
intention to regulate the activity while permitting an individual to do something.

Permit:
If one looks up in a dictionary, he finds that a permit is defined using the word
license and it is permission or legal authorization to do a particular activity. It is
also a noun that refers to the legal document that a person must have in possession
before he starts a particular business or an activity. There is motorcycle permit that
is a restricted license as it requires the holder to have an older person sit behind
him while riding a motorcycle on the road. Upon reaching the age of 18, the same
person who had a driver’s permit becomes eligible to obtain a driver’s license. A
person may have the license to do pest control business, yet he may be required to
obtain permits to keep certain chemicals on his premises and also to be able to
make use of these chemicals.

You might also like