1. IP is musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs. Common types of intellectual property include copyrights, trademarks, patents, industrial design rights and trade secrets in some jurisdictions

2. Collaborative culture is social networking sites and online collaboration tools make it easier for employees to collaborate and share their knowledge. With email and IM creating a knowledge-sharing system that can bolster communication and productivity throughout an enterprise

3. Remix creativity is a writing, collective writing/creation and vernacular creativity. It is also use of existing products being altered/remixed for a specific purpose

4. Creative Commons (CC) is a non-profit organization headquartered in San Francisco, California, United States devoted to expanding the range of creative works available for others to build upon legally and to share. The organization has released several copyright-licenses known as Creative Commons licenses for free to the public. These licenses allow creators to communicate which rights they reserve, and which rights they waive for the benefit of recipients or other creators. Wikipedia is one of the notable web-based projects using one of its licenses.
The organization was founded in 2001 with support of the Center for the Public Domain. The first set of copyright licenses were released in December 2002.

5. Globalisation is an ongoing process by which regional economies, societies, and cultures have become integrated through a globe-spanning network of communication and trade. The term can also refer to the transnational circulation of ideas, languages, or popular culture through acculturation. It is also the concept that as technology, easier travel, etc has made the world 'smaller' or more easily accessible than it used to be.

6. Knowledge economy is various observers describe today's global economy as one in transition to a "knowledge economy", as an extension of an "information society". The transition requires that the rules and practices that determined success in the industrial economy need rewriting in an interconnected, globalized economy where knowledge resources such as know-how and expertise are as critical as other economic resources.

7. Digital natives are todays students who think and process information fundamentally differently from their predecessors. A digital native is a person for whom digital technologies already existed when they were born, and hence has grown up with digital technology such as computers, the Internet, mobile phones and MP3s. They have spent less than 5,000 hours of their lives reading, but over 10,000 hours playing video games and 20,000 hours watching TV.

8. Peering is when two networks exchange traffic between each other's customers freely, and for mutual benefit.

9. Free creativity is how new technology has enabled audiences to create and share products, without having to pay for hosting of sites

10. Democratisation allows means of production and distribution to be shared amongst the audience rather than in the hands of the gatekeeping institutions.

11. Perfect Storm is the combination of 3 elements:
- technology
- demographics
- economics
meaning that all media companies now have to take all of these into account and use web 2.0 in order to be successful.

12. Wikinomics is a term invented by Tapscott and Williams t (2006) to describe the impact of web 2.0 on economics as well as media. It explores how some companies in the early 21st century have used mass collaboration (also called peer production) and open-source technology such as wikis to be successful.

13. 'We think' , the way we think, our actual brain processes and how we make sense of knowledge has changed in the light of Web 2.0