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The term ‘generic’ refers to a consumer product having no brand name or registered trademark. For instance, a generic medication contains the same chemical element as a previously covered drug by a chemical patent. After the patents on the initial medicines expire, generic drugs may be sold. Generic means something doesn’t have any distinct qualities; it is defined as a product without a brand name. In trademark law, it defines a descriptive word or expression that cannot be trademarked; in pharmaceuticals or other products, it defines a non-trademarked alternative sold in competition with a brand-name product. The kind of soap with a store label that says "soap" but no brand name is an example of generic.
A business plan is a structured written document containing a company's objectives, the strategies for achieving those objectives, and the timeline for achieving the objectives. The essence of the corporation, background information on the organization, the financial forecasts of the organization, and the strategies it plans to adopt to achieve the specified goals are also identified. A generic plan is a business plan that doesn't have any distinctive details. It is a plan that can be developed for any type of organization irrespective of its goals, vision, or type of product or service. This document, in its entirety, serves as a road map (a plan) that provides the organization with guidance.
Your business plan is the foundation of your business. Make quick and efficient business plans for a large organization, small business, or startup, with our sample printable Generic Plan templates.