A Business Model or Method (BM) is a plan for the successful operation of a business, identifying sources of revenue, the intended customer base, products, and details of financing that includes how the business makes money or how to deliver value to the customers at an appropriate cost. The BM is a framework for finding a systematic way to make long-term value for an organisation while delivering value to customers and capturing value through monetisation strategies. The BM (Business Model or Method) may be a class of patents which disclose and claim new methods of doing business that is combined with technology, resulting in a new way of doing business.

Related Definitions in the Project: The Project