International Business Opportunities and Challenges Study Set 1

Companies encourage intrapreneurs to propose new ideas and solutions, rewarding them with seed money to develop and grow their ideas.

Some companies actively seek patents that they can purchase because they want to speed up their own R&D efforts.

Significant differences in property rights around the globe make the world flatter with respect to innovation.

Companies undertake R&D in order to develop new products, services, or procedures that will help them grow and expand their operations.

Government investments in infrastructure that support new technology provide insignificant returns in terms of promoting innovation.

Some companies obtain patents mainly to license or sell them to others, thus making money from their inventions without having to manufacture or service anything themselves.

An innovation becomes an invention when people are willing to buy it in high enough numbers that result in benefits for the firm.

Governments provide tax credit to corporations to encourage them to invest in R&D in their countries.

A trade secret may relate to technical matters, such as the composition or design of a product, a method of manufacture, or the know-how necessary to perform a particular operation.

Patents automatically guarantee a favourable decision every time the owner is forced to defend the invention in court.

It is not mandatory for a company to reveal the details of the invention in order to get a patent.

In some cases, the lead users even precede a company when it comes to making breakthrough innovations.

It is Harder to take advantage of foreign countries' knowledge if one is not located there because culture, geography, and secrecy make knowledge Harder to diffuse across international borders.

Small businesses often find that trademarks and copyrights are an expensive way to protect their products and services.

A low price product can be highly profitable if the seller is organized to deliver value.

The system of law related to R&D and innovation is referred to as intellectual property rights.

A significant amount of innovation yields no new products or services because of R&D failure.

Defending a patent is relatively inexpensive even entrepreneurs can afford it.

A government can fund R&D directly, by offering grants to universities and research centers.

Innovation hubs usually have a specific industry focus.