Chapter 5.8 - Research and Development Flashcards
Copyrights
Provide legal protection for artists and authors by preventing others from using or replicating their published works without permissions
Disruptive innovation
Refers to any major innovation that introduces a new good or service designed to replace an existing one by radically altering the market
Development
The use of research findings to create products that might be commercialized. It can also mean improving existing processes or products
Incremental innovation
Refers to minor improvements to products, services, or work processes
Innovation
The process of commercially pioneering new ideas and creations in the production process
Intellectual property rights (intellectual property protection)
The legal and exclusive ownership claims to certain creations, inventions, or pieces of work. They consist of copyrights, patents, and trademarks
Patent
The legal right to be the exclusive producer or user of a newly invented process or product, for a finite period of time
Prototypes
Trial or test products used in the R&D process. Prototypes are designed, tested, and developed with the hope of eventual commercial production
Research
Refers to the commercial investigation of the unknown, such as new products or processes
Research and development (R&D)
The technological and scientific research that helps to generate a flow of new commercial ideas and processes
Sunrise industry
A growing industry that has significant growth potential, which helps to justify R&D expenditure
Sunset industry
A declining industry where there is no or even negative growth in the market. This makes R&D expenditure difficult to justify, so it is often withdrawn
Trademark
A sign, slogan, or logo that represents a business or a product belonging to that business
