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New venture creation is a hot topic and different scholars tried to shed light on this fascinating research subject. Despite the vast body of existing literature, there is little consensus about which theoretical perspectives and theories are best suited for describing and explaining the phenomenon. One of the most controversial topics is that “whether this phenomenon could be considered as a process or not?” This paper presents the existing views and theories on new venture creation, and tries to answer the mentioned question. To do so, Moroz and Hindle’s (2012) distinguished views are used. Finally, the paper concludes with some suggestions and remarks. The main contribution of this paper is to criticize the existing perspectives and theories, to categorize them, and to present a more comprehensible view of the phenomenon.
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