definition of calculated risk

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Definition of calculated risk

The probability of a negative event happening

Definition of creative thinking

Coming up with new and unique ideas

Definition of competitive advantage

An advantage that a business has which enables it to do better than its competitors eg a unique selling point

Definition of deliberate creativity

The intentional creation of new ideas through recognized and accepted techniques

Defintion of lateral thinking

Thinking differently to try and find new and unexpected ideas

Definition of invention

The discovery of new products typically after a period of research

Innovation

The process of turning inventions into products that can be sold to customers

Legal ownership of materiel such as books music and films which pervent them from being copied by others

Trademark

The symbol or sign that a product or business is protected by law

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