Technology Entrepreneurship: Taking Innovation to the Marketplace

Title-page_2021_Technology-Entrepreneurship
Technology Entrepreneurship
Copyright_2021_Technology-Entrepreneurship
Copyright
Dedication_2021_Technology-Entrepreneurship
Dedication
Contents_2021_Technology-Entrepreneurship
Contents
About-the-Authors_2021_Technology-Entrepreneurship
About the Authors
Foreword_2021_Technology-Entrepreneurship
Foreword
Preface_2021_Technology-Entrepreneurship
Preface
Acknowledgments_2021_Technology-Entrepreneurship
Acknowledgments
1---Technology-Entrepreneurs-in-the-Global-Eco_2021_Technology-Entrepreneurs
1 Technology Entrepreneurs in the Global Economy
Introduction
Trends and Opportunities in Technology Entrepreneurship
The Global Opportunity
Intellectual Foundations
Chapter Summary
Key Takeaways
Keyterms
Additional Reading
Endnotes
2---Becoming-an-Entrepreneur_2021_Technology-Entrepreneurship
2 Becoming an Entrepreneur
Introduction
Entrepreneurial Persistence
Entrepreneurial Identity
The Entrepreneurial Virtues
Value Creation
Respect the Market
Honor Contracts and Promises
Be Resourceful and Optimistic
Be Resilient and Rebound From Failure
Chapter Summary
Keyterms
Additional Reading
3---Creating-Your-Venture_2021_Technology-Entrepreneurship
3 Creating Your Venture
Introduction
Six Fundamental Venture Types
Business to Business
Business to Consumer
Business to Government
The Idea Generation Process
Step 1: Identify a Point of Pain
Step 2: Innovate a Product or Service
Step 3: Test Business Models
Step 4: Customer Acquisition
The Opportunity Register
Nontraditional Idea Sources
Read Alternative Literature
Visit New Places and Experience New Things
Meet Thought Leaders
Chapter Summary
Key Takeaways
Keyterms
Additional Reading
Endnotes
4---Understanding-Your-Market_2021_Technology-Entrepreneurship
4 Understanding Your Market
Introduction
The Market
Market Segmentation Techniques
Geographic Segmentation
Demographic Segmentation
Brand Loyalty Segmentation
Just-noticeable Difference Segmentation
Key Element Segmentation
Product/service Segmentation
Psychographic Segmentation
Industry and Competitive Analysis
Assistance
General Information
Industry and Market Information
Competitive Company and Product/service Information
Government Sources
Search Engines
Trade Associations
Trade Publications
Customer Value
Stages in the Buying Process
Need Arousal
Information Search
Evaluation
Purchase Decision
Postpurchase Behavior
Chapter Summary
Key Takeaways
Keyterms
Additional Reading
Web Resources
Endnotes
5---Developing-Your-Products_2021_Technology-Entrepreneurship
5 Developing Your Products
Introduction
Product Planning and Development
The Idea Development Process
Describe the Idea and Competition
Determine the Need
Modify and Validate
Develop a Marketing Plan
Develop the Final Product or Service
Launch the Idea
The Concept of Newness
Newness to the Consumer
Newness to the Organization
Newness to the Distribution System
Opportunity Assessment Plan
The Diffusion Process
Adoption Process
The Product Life Cycle
Rapid Technology Change in Rapidly Changing Markets
Disruptive Technology
Technology and the Market
Chapter Summary
Key Takeaways
Keyterms
Additional Reading
Web Resources
Endnotes
6---Protecting-Your-Intellectual-Property_2021_Technology-Entrepreneurship
6 Protecting Your Intellectual Property
Introduction
IP and Technology Ventures
IP Protection
Recognizing IP
Record Keeping
Record Keeping Procedures
Guidelines for Record-Keeping
Trade Secrets
Procedures for Trade Secret Protection
Patents
The Patent Application
Written Description
Claims
Exclusive Right
Patentability
Patent Eligibility
Novelty and Nonobviousness
The Patent Examination Process
Patent Pending
Patent Ownership
International Patents
Copyrights
Considerations with Respect to Software
Copyrights and the Internet
Notice
Copyright Registration
Copyright Ownership
Mask Works
Trademarks
Acquiring Trademark Rights
Use-based Common-Law and Combination Use-Based Registration Systems
Pure Registration Systems
Registering a Trademark
Trademark Notice Symbols
International Protection of Trademarks
The Strength of a Mark
Choosing a Mark
Key Takeaways
Keyterms
Additional Reading
Web Resources
Endnotes
7---Legal-Structure-and-Equity-Distribution_2021_Technology-Entrepreneurship
7 Legal Structure and Equity Distribution
Introduction
Ownership and Liability Issues
Limited Versus Unlimited Liability
The Extent of Limited Liability
Choice of Legal Structure
Sole Proprietorship
General Partnership
Limited Partnership
Corporation
Structure of a Corporation
US Tax Laws and Corporation Types
Maintaining Corporate Status
Limited Liability Company
LLC Characteristics
Limited Liability Entities—A Comparison
Participants and Capital Growth Strategy
Taxation
Distribution of Profits and Losses
Formalities and Regulatory Burden
Equity and Equity Types
Corporate Stocks
Common Stock
Preferred Stock
Preferred Stock Distributions
Convertibility
Participating Preferred
Voting Rights
Founder’s Stock
Raising Capital
Equity Distribution in the Nascent Venture
Employee Stock Options
Vesting
Restrictive Clauses
Tax Issues
Chapter Summary
Keyterms
Additional Reading
Web Resources
Endnotes
8---Financing-the-Venture_2021_Technology-Entrepreneurship
8 Financing the Venture
Introduction
Finance for Entrepreneurs
Financial Forecasting
The Sales Forecast
The Income Statement
The Cash Flow Statement
The Balance Sheet
Financial Statement Analysis
Financial Management
Credit and Collections Policies
Inventory Management
Purchase of Capital Assets
Payment of Debt
Payment of Dividends
Capital Budgeting
Key Takeaways
Keyterms
9---Acquiring-Capital-Resources_2021_Technology-Entrepreneurship
9 Acquiring Capital Resources
Introduction
The Role of Capital
Equity Financing
Securities and Exchange Commission Rules
Costs of Equity Financing
Sources of Equity Financing
Angel Financing
Venture Capital
What Do Venture Capital Firms Look For?
Debt Financing
Institutional Lender Requirements
Loan Rates, Payment Methods, and Lender Types
Small Business Administration Loans
Fundraising Tools and Techniques
Subscription Agreement
Elevator Pitch
Alternatives to Debt and Equity Financing
Small Business Innovation Research
Small Business Technology Transfer
Bootstrap Financing
Chapter Summary
Key Takeaways
Keyterms
Additional Reading
10---Launching-Your-Venture_2021_Technology-Entrepreneurship
10 Launching Your Venture
Introduction
The Business Plan
Writing the Business Plan
Purpose of the Plan
Elements of a Business Plan
Section 1
Section 2
Description of the Business
Description of Industry
The Technology Plan
The Marketing Plan
The Financial Plan
The Production Plan
The Organizational Plan
The Operational Plan
Section 3
Market Entry Positioning
Market Penetration Strategy
First Mover Advantage
Value Chain Analysis
Developing a Contingency Plan
Chapter Summary
Key Takeaways
Keyterms
Additional Reading
Web Resources
Endnotes
11---Marketing-Your-Venture_2021_Technology-Entrepreneurship
11 Marketing Your Venture
Introduction
The Marketing Mix
Product Mix
Pricing
Placement (Distribution)
Promotion
The Promotion Budget
International Entrepreneurial Marketing
Definition of International Entrepreneurial Marketing
International Entrepreneurial Marketing Terminology
Aspects of International Trade
Culture and International Entrepreneurial Marketing
An International Entrepreneurial Marketing Program
Measuring the Effectiveness of a Marketing Expenditure
Chapter Summary
Key Takeaways
Keyterms
Additional Reading
Web Resources
Endnotes
12---Contracts_2021_Technology-Entrepreneurship
12 Contracts
Introduction
Sources of Contract Law
Contract Formation
The Offer
The Counteroffer
Acceptance
Acceptance Over the Internet
Revocation of Offer or Acceptance
Consideration
Defenses Against Contract Enforcement
Performance and Breach
Conditions
Excusing Less Than Complete Performance
Damages
Rescission and Restitution
Specific Performance
Quasi-Contract
Reformation
Anatomy of a Contract
Preamble
Recitals
Definitions
Performance
Intellectual Property
Consideration
Representations and Warranties
Indemnity
Term and Termination
Miscellaneous Provisions
Types of Agreements Encountered
Partnership, Operating, and Shareholders Agreements
Employment Agreements
Noncompete Agreements
Confidentiality Agreements
Consulting and Development Agreements
Maintenance and Support Agreements
Manufacturing Agreements
Assignment Agreements
License Agreements
Patent Licenses
Know-How Licenses
Trademark Licenses
Franchise Agreements
Technical Services Agreements
Distribution Agreements
Value-Added Reseller and Original Equipment Manufacturer Agreements
Purchase Agreements
Chapter Summary
Keyterms
Additional Reading
Web Resources
Endnotes
13---Managing-the-Venture--Strategy-and-Operat_2021_Technology-Entrepreneurs
13 Managing the Venture: Strategy and Operations
Introduction
Managing Venture Strategy
Product and Service Positioning
Strategy Frameworks
Strategic Planning
SWOT Analysis
Stakeholders and Strategy
Employees
Customers
Suppliers
Shareholders
Community
Managing Venture Operations
Operations Strategy
Competitive Priorities
Operating System Decisions
Focus, Trade-Offs, and Operations Strategy in a New Venture
Supply Chain Management
Process Management
Process Choice
Process Analysis and Improvement
Scalability
Lean Thinking
Flexibility
Key Takeaways
Keyterms
14---Venture-Leadership_2021_Technology-Entrepreneurship
14 Venture Leadership
Introduction
Entrepreneurial Leadership
Influence
Leadership Skills
Analytical Skills
Decision-Making Skills
Communication Skills
Conceptual Skills
Resilience Skills
Team Building Skills
Self-Awareness Skills
Personality
Values
Attitudes
Entrepreneurial Leadership and Ethics
Chapter Summary
Key Takeaways
Keyterms
Additional Reading
Endnotes
15---Valuing-and-Exiting-Your-Venture_2021_Technology-Entrepreneurship
15 Valuing and Exiting Your Venture
Introduction
Due Diligence
Finances
Product/service Line
Synergy
Markets and Customers
Research and Development
Operations
Management and Key Personnel
Valuation
Valuation Techniques
Multiples Technique
Discounted Cash Flow Technique
Exit via Succession
Advantages of Exit via Succession
Disadvantages of Exit via Succession
Exit via Acquisition
The Acquisition Deal
Advantages of Exit via Acquisition
Disadvantages of Exit via Acquisition
Exit via Merger
Advantages of Exit via Merger
Disadvantages of Exit via Merger
Exit via Initial Public Offering
Timing
Selecting an Investment Bank
Registration Statement and Timetable
The Prospectus
The Red Herring
Reporting Requirements
Advantages of Exit via IPO
Disadvantages of Exit via IPO
Chapter Summary
Key Takeaways
Keyterms
Additional Reading
16---Your-Entrepreneurial-Career_2021_Technology-Entrepreneurship
16 Your Entrepreneurial Career
Introduction
Self-Assessment
Determining What you Want to do
Finding and Using a Mentor
Types of Entrepreneurs
Decision to be a Technology Entrepreneur
Change from Present Lifestyle
Desirability of New Venture Formation
Possibility of New Venture Formation
Background and Characteristics
The Entrepreneurial Process
Identify and Evaluate the Opportunity
Develop a Business Plan
Determine the Resources Required
Launch and Manage the Enterprise
Differences in Decision Making
Ups and Downs of Being an Entrepreneur
Chapter Summary
Key Takeaways
Keyterms
Additional reading
Web resources
Endnotes
Appendix-I---Example-Executive-Summary_2021_Technology-Entrepreneurship
Appendix I Example Executive Summary
Mission Statement
Problem Being Solved
The Solution
Unique Sales Proposition
Competition
Market
Market Segment
Marketing Plan
Price
Financial Summary
Appendix-II---Example-of-a-Generic-Confidentialit_2021_Technology-Entreprene
Appendix II Example of a Generic Confidentiality Agreement
Agreement Regarding Confidential Information and Technology
Appendix-III---Sample-Development-Agreement_2021_Technology-Entrepreneurship
Appendix III: Sample Development Agreement
Development Agreement
Preamble
Recitals
Appendix-IV---Example-of-an-Employment-Agreem_2021_Technology-Entrepreneursh
Appendix IV Example of an Employment Agreement
Agreement Regarding Technology and Confidential Information
Index_2021_Technology-Entrepreneurship
Index