Intellectual property refers to creations of the mind such as inventions, literary and artistic works and symbols, names, images and designs used in business
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Intellectual property rights
Legal property rights over the possession and use of intellectual property
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Copyright
Legal right to protect and be the sole beneficiary from artistic and literary works
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Trademark
Distinctive name, symbol, motto or design that identifies a business or its products can be legally registered and cannot be copied
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Product innovation, process innovation, positioning innovation and paradigm innovation
4Ps Innovation Model
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Nature of the industry; R&D and innovation spending plans of competitors; business expectations; risk profile or culture of the business; needed finance for effective R&D; ethical considerations
6 factors affecting R&D practices and strategies in an organization
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Competitive advantage
What sets your business apart from your competition
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Product innovation
Introduction of a good/service that is new or significantly improved with respect to its characteristics or intended uses
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Process innovation
Implementation of a new or significantly improved production or delivery method. This includes significant changes in techniques, equipment and/or software
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Positioning innovation
Repositioning, taking a product/service and offering it in a new market, or with a new slant
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Paradigm innovation
Shifting of an underlying mental model via a change
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Flashcard (59)