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Unit Two "Starting a Business"
IBBM Key Terms
5
Business
10th Grade
05/25/2009

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Cards

Term
Business Plan
Definition
a statement made by a business, outlining the way it will attempt to achieve its objectives
Term
Copyright
Definition
the ownership of material such as books and films which is protected by law from re-use without permission
Term
Hire purchase/credit sale
Definition
methods used to buy goods now and pay off the balance over a period of time. In the case of the former, the goods only belong to the buyer which the final payment is made
Term
National Insurance contributions
Definition
payments made by employees and employers to the goverment as a form of insurance premium
Term
Patent
Definition
a license which prevents the copying of an idea
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