MGT 4893 Module 8 Chap. 9

Which of the following correctly describes the protection provided by that type of intellectual property?

A patent offers exclusive rights to a new and useful product, process, substance, or design.

It may be preferable for government to intervene to impose a public standard, rather than let a private, de facto standard be determined through competition because:

A private, de facto standard can take a long time to become established, which delays the adoption of a new technology.

Being the leader in introducing an innovation to the market is usually better than being a follower.

False

The principal difference between invention and innovation is:

Invention is the creation of a new device or process; innovation involves commercialization.

Cooperation with lead users is a useful tool of innovation management because:

Lead users provide both important feedback as well as revenues that can assist with ongoing product development.

Which of the following statements about open innovation is FALSE?

Open innovation is only useful in software communities and small and medium-sized firms.

"Network externalities" refer to:

The value that the user of a product gets from the number of other users of the same product

A company may seek to patent an invention even if it has no intentions of commercializing it. Which of the following is NOT an important reason for such strategic patenting?

To enhance the individual reputations of the company's leading scientists and technologists

A shopping mall provides an interface between two types of customer: the retailers which lease retail stores and the consumers that shop at these stores. Hence a shopping mall may be regarded as a platform.

True

The main advantage of licensing as a means of exploiting an innovation is that the innovator can profit from the innovation without the need to invest in the complementary resources and capabilities required for commercialization.

True