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LET'S PRACTICE
Name: _____________________________________________________________________________
Retracing the Path to Production
1. R&D means ___________________________________. 2. What are some things the HealnnHeels team accomplished in R&D? _ ____________________________________________ _ ____________________________________________ _ ____________________________________________ _ ____________________________________________ _ ____________________________________________ 3. What is a prototype ? Hiring of design engineers, expert collaboration , materials testing and schematics were made and refined; a prototype was made and the product was tested . research and development _ ____________________________________________ _ ____________________________________________ _ ____________________________________________ 4. What does TIN stand for? _ ______________________________________________________________________________ 5. The HealnnHeels team applied for a patent. Why? _ ______________________________________________________________________________ _ ______________________________________________________________________________ 6. What can happen to similar products if consumers get ripped off or injured by a product? _ ______________________________________________________________________________ _ ______________________________________________________________________________ 7. What is financial capital ? _ ______________________________________________________________________________ 8. What is a venture capital ? _ ______________________________________________________________________________ To have the design declared to be their exclusive property; to protect the design from IP theft. A faulty or unsafe product can impact the sales of other similar products. Money for funding a startup. It is an early sample or test model of a product. Money Taxpayer Identification Number PRODUCT PREVIEW
199 THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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