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This is part of the Financial Projections Business Plan Guide a series of posts on what each section of a simple business plan should include.The next post in this series is about the traction your business idea has.Set out the intellectual property rights your business has.
A design registration is a type of intellectual property right protecting the way an object looks, its shape, and visual appeal.
A registered design can protect such things as color, shape, and texture.
It is important for a startup business that the minimum viable product is low cost, can reach the customer quickly, and is effectively an early prototype of the final product, so that the customers can get an early indication of what the product is trying to achieve.
The idea of a minimum viable product is to rapidly build a minimum set of features into a product and release it onto the market to test customer reaction.
He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a BSc from Loughborough University.
Having written dozens of plans, we understand that not all business ideas are worth pursuing.The DHS IT Strategic Plan 2015-2018 reflects our rapidly-changing IT environment and evolving mission and business needs, as well as IT’s role in every aspect of security and resilience.It outlines DHS’ IT priorities and provides strategic direction for the use of IT resources, in order to improve the efficiency of our programs, enhance our mission effectiveness, and ultimately, provide for the security of the American people.Registering a trade mark gives the business the exclusive right to use it, and another business using the same or similar trademark is said to have infringed the trademark and could be sued for damages.A registered trade mark is identified by the letter “R” surrounded by a circle .Issuing a minimum viable product into the market place is one method a business can adopt to achieve a lean startup methodology.A minimum viable product, often abbreviated to MVP, is a product with just enough features to see whether it will work in the real world.For example, copyright will protect music, films, books.There is no set style for the product and technology section of the business plan, a few paragraphs together with bullet points should be sufficient to explain the product itself, what it does, and the technology behind it.In this section, describe the current state of development of the product (concept, prototype, or market-ready), explain what further work needs to be done, and what skills you need if any, in order for it to be ready for the market place.Unless they are already obvious and apparent make sure that the uses of the product are explained to the investor.