ENT 101 EXAM REPORTED
QUESTIONS WITH COMPLETE
SOLUTIONS
WHY SHOULD YOU GET OUTSIDE OF THE BUILDING? - Answer- WE ARE
CONVINCED WE UNDERSTAND WHEN WE ACTUALLY DON'T
•IP INCLUDES - Answer- •PATENTS
•COPYRIGHTS
•TRADEMARKS
WHAT LEGAL ENTITY DOESN'T PROVIDE A BARRIER OFPROTECTION AGAINST
A LAWSUIT? - Answer- SOLE PROPRIETORSHIP
INVENTION VS. INNOVATION - Answer- •INVENTION = THE DISCOVERY OF A NEW
TECHNOLOGY, PRODUCT, OR SERVICE
•INNOVATION = THE COMBINATION OF AN INVENTION (NEW OR OLD) WITH
INSIGHT ABOUT A MARKET NEED
TWO MAJOR CATEGORIES OF IDEAS - Answer- 1.BRAVE NEW WORLD OR
BREAKTHROUGH IDEAS
2.BETTER FASTER CHEAPER IDEAS
The Confirmation Trap - Answer- •The tendency to see what we already believe and
discard evident to thecontrary
Feature Creep Syndrome - Answer- •When entrepreneurs try to add another feature in
the hopes that the one missing feature will open the magical door to more sales
Fundamental Attribution Error - Answer- •People often attribute far more success and
far more failure to the individual than the individual actually deserves
Prototype Test - Answer- •Transform virtual prototype into an inexpensive physical
prototype
Purpose of Virtual Prototype Test - Answer- •Deeper Validation
Initial Validation of solution
Insights and surprises about actual solution
Growing Market - Answer- •Easier to compete and succeed in growing markets
QUESTIONS WITH COMPLETE
SOLUTIONS
WHY SHOULD YOU GET OUTSIDE OF THE BUILDING? - Answer- WE ARE
CONVINCED WE UNDERSTAND WHEN WE ACTUALLY DON'T
•IP INCLUDES - Answer- •PATENTS
•COPYRIGHTS
•TRADEMARKS
WHAT LEGAL ENTITY DOESN'T PROVIDE A BARRIER OFPROTECTION AGAINST
A LAWSUIT? - Answer- SOLE PROPRIETORSHIP
INVENTION VS. INNOVATION - Answer- •INVENTION = THE DISCOVERY OF A NEW
TECHNOLOGY, PRODUCT, OR SERVICE
•INNOVATION = THE COMBINATION OF AN INVENTION (NEW OR OLD) WITH
INSIGHT ABOUT A MARKET NEED
TWO MAJOR CATEGORIES OF IDEAS - Answer- 1.BRAVE NEW WORLD OR
BREAKTHROUGH IDEAS
2.BETTER FASTER CHEAPER IDEAS
The Confirmation Trap - Answer- •The tendency to see what we already believe and
discard evident to thecontrary
Feature Creep Syndrome - Answer- •When entrepreneurs try to add another feature in
the hopes that the one missing feature will open the magical door to more sales
Fundamental Attribution Error - Answer- •People often attribute far more success and
far more failure to the individual than the individual actually deserves
Prototype Test - Answer- •Transform virtual prototype into an inexpensive physical
prototype
Purpose of Virtual Prototype Test - Answer- •Deeper Validation
Initial Validation of solution
Insights and surprises about actual solution
Growing Market - Answer- •Easier to compete and succeed in growing markets
