Business in Life Sciences

Question 1

name 3roles in research commercialisation

Answer 1

chief executive officer (runs company), chief scientific officer (gives advice), professor (generates idea- receives name on patent)

Question 2

give 4 routes into business through life sciences

Answer 2

-translation of academic research into business
-industry research and development
-scientist turned entrepreneur
-applying science knowledge in business applications

Question 3

give the 4 types of investor within academic research

Answer 3

-council grants
-charity
-fellowships
-competitions
-angel investor
-venture capital

Question 4

what are mission statements

Answer 4

trying to define your compant purpose in a single declarative sentence

Question 5

what are value propositions within businesses

Answer 5

the bundle of products and services that create value for the specific customer segment

Question 6

define entrepreneurship

Answer 6

the exploitation of opportunity without regard to the current availability of resources

Question 7

define entrepreneurship

Answer 7

the exploitation of opportunity without regard to the current availability of resources

Question 8

give a requirement before a patent can be granted

Answer 8

it must not have been made publicly available anywhere in the world (eg. description in a publication), also cannot be an obvious change to something slready exisiting

Question 9

how long do patents on medicinal drugs last

Answer 9

between 20-30years

Question 10

what are 4 ways to protect intellectual property

Answer 10

patents, copyright, trademark, design rights

Question 11

what is intellectual property

Answer 11

something you create with your mind