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Definition: Corporate Entrepreneurship is the process by which teams within an established company conceive, foster, launch and manage a new business that is distinct from the parent company but leverages the parent's assets, market position, capabilities or other resources (Wolcott and Lippitz (2007)).
It is also known as intrapreneurship, and as organizational entrepreneurship. It can also be defined as all entrepreneurial activities such as innovation, venturing and strategic renewal within existing firms. Note that it involves more than New Product Development (NPD) as it includes innovations in products, services, channels and brands.