Highly valued in technology enhancement or product design, the business models of tangible and intangible products are less concerned by academic researchers and entrepreneurial practices. The definition, characteristics and structure of these business models are still ambiguous. This article synthesizes the literature and draws conclusions. Combined with strategic design thinking, two core models are proposed for the two product types. These two business models, BMTP and BMIP, are illustrated by using four representative design companies as cases analysis. Implementation underpinnings of entrepreneurship education in Design Disciplines are explored in the suggestion part.