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A group of people with a full set of complementary skills required to complete a task, job or project.
Group: A number of people or things that are together in the same place, they are connected by some share, activity or quality.

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Working with friends, may be easier, because you have more confidence. Having a good relationship with our team mates is something essential, to tell them things that can help them to improve.
Team´s process, facing a problem, and see how the team process that, with communication, etc.
Team´s results: The team can be measured on its work results or products.
Team level: The team´s performance.
Embrace the team´s mistakes.

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The capacity and willingness to develop, organize, and manage a business with any of its risks in order to make a profit.
Example: starting a new business.

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Standardize: come up with a process for a specific activity that is repeatable and organized.
Measure: Examine weather the process is efficient using quantifiable data, like time to complete, hours spent, etc.
Compare: Compare your measurements against your requirements.
Innovate:  Search for new, better ways to do the same work or achieve the same result.
Repeat: Go back to step one and start again.

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Unlimited companys are rare. Private firm, where the owners accept personal and unlimited liability for its debts and obligations in return for avoiding double taxation of a limited company.
Limited: If the company goes to bankruptcy the owner does not have to pay, the company is going to pay the damages, THE COMPANY, NOT THE OWNER.

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separate legal entity to carry on business.
Basic elements:
A name.
At least one share.
A registered office where the company records are kept.
An address for service where legal documents can be served.
The registration will also ask for an address for communication.

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Interpretation:

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Observation: is the act of a careful watching and listening. It is when you play close attention to someone or something in order to get information.
Interpretation: The act or result of explaining or interpreting something, it is the way that someone sees or understands something.

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We understood and learnt how to empathize, define, ideate, prototype and test.
Empathize: lear about the audience.
Define: construct a point of view.
Ideate: Brainstorm.
Prototype: Build a representation of one or more of our ideas.
Test: Return to the first user we interview.