Purpose of the article is to create a new definition of Born Global (BG) company, more relevant to contemporary global business situation. BG companies is the phenomenon that contributes to national economic development by fostering innovation, creating stocks of skills and knowledge, supporting industrial growth. It would be a right decision to study the options to develop BG companies in Latvia because a small number of export-capable sectors is a factor that renders the Latvian economy sensitive to any changes in the external environment. Developing of standard definitions helps to increase research clarity as well as comparability of firms across regions, countries and specific industries. Authors highlight the role of defining and predicting of the opportunities for a company to be-come BG. Theories help to justify an inclusion of all the corresponding components in the defi-nition. These theoretical justification could be the basis for the further investigation of the rela-tionship between effectual conditions and the outcome (potential to be born global company).