Author: Termscompared

Formal vs informal communication

Irrespective of the field or type of business, communication plays a pivotal part in the successful functioning of every organization. The way in which ideas and information are disseminated within an organization determines the...

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Trademark vs patent

Once an idea is converted into something valuable, like a product, design or an artistic creation, it turns into an intellectual property (IP). IP is a legal term that is used to signify all the things conceived by a person that...

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Entrepreneur vs entrepreneurship

Entrepreneur and entrepreneurship are two popular and closely related business terms. However, they may have to be explained to individuals who are new to commerce and industry and are not well aware of the use of business...

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Balance of trade vs balance of payment

International trade has become an important part of many entity’s business activities. Globalization across countries has provided a boost to international trade. International trade comprises of two components – import and...

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