Business Chapter 30 Flashcards
1
Q
Copyright
A
А legal right that grants the creator of an original work the sole right to determine and decide whether and under what conditions, this original work may be used by others.
2
Q
Intellectual property
A
A product that is a creation of mind, such as an invention, literary work or artwork, that the law protects from unauthorised use by others. (Potents, copyrights and trademarks.
3
Q
Licensing
A
А contract with another firm to use its intellectual property or to produce its product or service in return for a fee
4
Q
Pricing power
A
The effect that a change in a firm’s product price has on the quantity demanded of that product
