Research and Development Flashcards
research
refers to investigating the unknown, such
as new products or processes
development
improving existing processes or products (improvements in
process innovation and cost-reducing innovations)
copyright
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 entering the market
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
the legal and exclusive ownership claims to certain creations, inventions or pieces of work
prototypes
trial or test products used in the R&D process with the hope of eventual commercial production
sunrise industry
growing industry that has significant growth potential, which helps to justify R&D expenditure
sunset industry
declining industry where there is no or even negative growth in the market
patent
a legal right to exclude others from making, using or selling an invention for a certain period of time
