Week 11 Flashcards
Knowledge and Intellectual property Strategy
What is the difference between data, information, and knowledge?
Data are raw observations, information is organized data with relevance, and knowledge is contextualized information incorporating experience and insights.
What is explicit knowledge?
Knowledge that can be easily communicated, documented, and stored, such as in databases or written manuals.
What is tacit knowledge?
Personal, experience-based knowledge that is difficult to articulate or formalize, often context-specific.
What are the four processes in the SECI model of knowledge creation?
Socialization, Externalization, Combination, and Internalization.
How do communities of practice (CoP) contribute to knowledge management?
They facilitate knowledge sharing through collective identity and a common task focus, enabling members to solve shared problems.
What is a patent, and what criteria must it meet?
A patent provides legal protection for inventions, requiring novelty, an inventive step, and industrial application.
How do organizations manage tacit knowledge?
Through social interaction, mentoring, and hands-on training, as it is difficult to store or document.
What is the balance between product pipeline focus and knowledge retention in organizations?
A focus on fast product development can conflict with the need to retain and develop deeper knowledge over the long term.
What is the significance of intellectual property (IP) for businesses?
IP helps protect innovations, provides competitive advantage, and can generate revenue through licensing.
What is the role of knowledge brokers?
They help translate and adapt knowledge between different communities, facilitating knowledge transfer.
What are design rights, and how are they protected?
Design rights protect the visual aspects of a design, often automatically, or through formal registration.
What is the significance of trade secrets?
Trade secrets protect confidential information valuable to a business without the need for public disclosure.
What is a trademark, and how can it be registered internationally?
A trademark protects symbols or words that identify a business; it can be registered internationally via the Madrid System.
Define the “STORM” strategy in IP management.
Spot, Test, Own, Record, and Monetize – a framework for managing IP assets effectively.
