Abstract
The concept of entrepreneurial opportunities is one of the most prominent concepts in the entrepreneurship literature. However, appropriate measurement scales related to key constructs associated to the opportunity paradigm, such as opportunity recognition and opportunity exploitation, still seem to be missing. Based on a three-step-series of surveys this study proposes two newly developed definitions of the study’s key concepts and two reliable and validated scales that measure the concepts and close the apparent research gap. The scales are presented along with a number of arguments supporting their validity and some suggestions of potentially interesting research areas where the scales could be employed.