What is the term for when someone leaves their job to pursue an entrepreneurial venture with permission from their employer?

The term that describes when someone leaves their job to pursue an entrepreneurial venture with permission from their employer is "skunk works." This concept refers to a team or project within a company that is given the autonomy to work on innovative ideas or products independent of the organization's usual bureaucratic structures. In this context, it allows employees to explore entrepreneurial opportunities while retaining a connection to their existing employer, fostering an environment of innovation and creativity.

Incubator programs, while related to entrepreneurship, typically refer to organizations that support startups by providing resources and guidance, rather than describing the situation where an employee is authorized to leave their job. Startup funding pertains to the financial resources provided to new ventures, but it does not capture the aspect of leaving a job with permission from an employer. A partnership agreement generally refers to a formal arrangement between two or more parties to collaborate on a business venture, but again, it does not specifically convey the notion of an employee transitioning to an entrepreneurial role.