W1: 1. Incubator /ˈɪŋ.kjʊ.beɪ.tər/(n):

• a container that has controlled air and temperature conditions in which a weak or premature baby (= one which was born too early) can be kept alive

• a device for keeping birds' eggs at the correct temperature to allow young birds to develop until they break out of the shell

Synonyms:

breeding place, incubator

(http://dictionary.cambridge.org/dictionary/british/incubator?q=Incubator)

2. Discontinuance
Part of Speech:	noun
Definition:	stop, suspension of activity
Synonyms:	adjournment, alternation, cease, cessation, close, closing, desistance, desuetude, discontinuation, disjunction, disruption, ending, finish, intermission, interruption, separation, stopping,
Antonyms:	continuation, restarting, retry

(http://thesaurus.com/browse/Discontinuance)

3. Entrepreneur
Part of Speech:	noun
Definition:	person who starts a business alone
Synonyms:	administrator, backer, businessperson, contractor, executive, founder, impressario, industrialist, manager, organizer, producer, promoter, undertaker

(http://thesaurus.com/browse/Entrepreneur)

He is Thai entrepreneur, his business about food and beverage(Oishi Group Company).

4. small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales.

(http://en.wikipedia.org/wiki/Small_business)

5. Failure

Part of Speech:	noun
Definition:	lack of success
Synonyms:	abortion, bankruptcy, bomb, botch, breakdown, bungle, bust, checkmate, collapse, decay, decline, defeat, deficiency, deficit, deterioration, downfall, failing, false step, faux pas, fiasco, flash in the pan, flop, frustration, implosion, inadequacy, lead balloon, lemon, loser, loss, mess, misadventure, miscarriage, misstep, nonperformance, nonsuccess, overthrow, rout, rupture, sinking ship, stalemate, stoppage, total loss, turkey, washout, wreck
Antonyms:	accomplishment, achievement, attainment, earnings, gain, merit, success, win

(http://dictionary.cambridge.org/dictionary/british/failure_1?q=Failure)



6. Formal failures are failures ending up in court with loss to creditors.

    Personal (informal) failure, the owner who cannot succeed voluntanly terminates the business.

W2

1 Estate/ ɪˈsteɪt/noun
The meaning : a large area of land in the country which is owned by a family or an organization and is often used for growing crops or raising animals

Examples of ESTATE

1. His estate is worth millions of dollars.
2. He inherited the estate from his parents.
3. the grounds of the estate

(http://www.merriam-webster.com/dictionary/estate)

(http://dictionary.cambridge.org/dictionary/british/estate_1?q=estate)

2. Estate planning

estate planning is The preparation of a plan of administration and disposition of one's property before or after death, including will, trusts, gifts, power of attorney, etc.

(http://www.investorwords.com/1752/estate_planning.html)

3. Family limited partnership

 “Family Limited Partnership” refers to is a limited partnership formed to hold the family business or investments, with the idea that the parents will make gifts of their limited partnership interests to their children. Because the limited partnership interests are illiquid, so the theory goes, they should be subject to substantial discounts for federal gift and estate tax planning purposes.

(http://www.assetprotectionbook.com/family_limited_partnerships.htm)

4. Buy-sell agreement
buy-sell agreement is an agreement used by businesses to sell the interests of a deceased owner to the remaining partners at a predetermined price or using a predetermined formula.

(http://www.investorwords.com/655/buy_sell_agreement.html)

5. Living trust

Living trust is a trust that becomes effective during the lifetime of the settlor —called also inter vivos trust

Living trust and will

	Will	Living Trust
Probate	Subject to probate proceedings. Out -of-state property requires probate proceedings in that state, as well. Provides court supervision for handling beneficiary challenges and creditor disputes. Becomes public record at the time of your death.	Not subject to probate proceedings. Avoids the cost of a second-state probate proceeding where there is out-of-state property. No automatic court supervision to deal with disputes. Remains private.
Tax Savings	Same tax saving provisions available as are available in a Trust.
Management of your Assets	In addition to the Will, must use a Power of Attorney or Conservatorship to manage assets.	Allows you as the grantor to manage the Trust assets as long as you are willing and able. Makes provisions for a successor trustee to take over in your place.
Costs	Costs less to prepare a Will than a Trust. Cost to probate a Will can be substantial.	Costs more to prepare, fund and manage a Trust than to prepare a Will. But avoids probate costs if all assets were held by the Trust

(http://www.lectlaw.com/filesh/qfl05.htm)