Late entrants typically bear the bulk of research and development expenses.

Name: Late entrants typically bear the bulk of research and development expenses.
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Late entrants can often benefit from the research and development already done by earlier entrants, so they may not necessarily bear the bulk of these expenses. However, they may still incur some research and development costs in order to catch up and compete with the earlier entrants.

Late Entrants Typically Bear the Bulk of Research and Development