Glossary design firm: there are companies that do nothing but design new products or develop new unique concepts; these design firms will then either sell their idea or unique technology to a manufacturing company which can then develop the idea into real saleable products, OR the design firm could choose to license the technology to any number of firms funding (U2DB): the method a company uses to raise money; they could sell stock or take on added debt; in either case they are receiving money from outside the company funding (U2IP): the term used to describe the method a firm or individual will use to get money to start or expand a business; the primary forms of this are to either borrow the money, or to sell stock in the company; in either case the individual or firm ends up with more money in his hand than prior to the funding license technology: when a company develops a special, unique, technology it will frequently allow other firms to license that invention, in return for giving the firm which developed it, a share of the revenues the second firm earns. For example, if GM were to license its Onstar Technology to other car firms, it might charge the other firms a 10% license fee; if the other firm sold $100,000 worth of this technology in THEIR cars, they would pay GM a license fee of 10% x $100,000 = $10,000 sell stock: when a corporation seeks to raise money it could either take on additional debt (borrow money) or sell stock; if it sells stock, it gets money in exchange for giving up an ownership share in the companyUnit 2 Glossary design firm: there are companies that do nothing but design new products or develop new unique concepts; these design firms will then either sell their idea or unique technology to a manufacturing company which can then develop the idea into real saleable products, OR the design firm could choose to license the technology to any number of firms funding (U2DB): the method a company uses to raise money; they could sell stock or take on added debt; in either case they are receiving money from outside the company funding (U2IP): the term used to describe the method a firm or individual will use to get money to start or expand a business; the primary forms of this are to either borrow the money, or to sell stock in the company; in either case the individual or firm ends up with more money in his hand than prior to the funding license technology: when a company develops a special, unique, technology it will frequently allow other firms to license that invention, in return for giving the firm which developed it, a share of the revenues the second firm earns. For example, if GM were to license its Onstar Technology to other car firms, it might charge the other firms a 10% license fee; if the other firm sold $100,000 worth of this technology in THEIR cars, they would pay GM a license fee of 10% x $100,000 = $10,000 sell stock: when a corporation seeks to raise money it could either take on additional debt (borrow money) or sell stock; if it sells stock, it gets money in exchange for giving up an ownership share in the company