A ______ Is a Proprietary Idea, Process, Formula, Technique, or Device

question 54

Multiple Choice

A ______ is a proprietary idea, process, formula, technique, or device that a company uses to its competitive advantage.

• A) copyright
• B) patent
• C) trademark
• D) trade secret
• E) None of the above

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Definitions:

Availability Heuristic

A mental shortcut used when judging the frequency or probability of events based on how easily examples come to mind.

Cognitive Heuristic

A mental shortcut that allows people to solve problems and make judgments quickly and efficiently.

Simulation

A method for implementing a model over time to study the behavior of a system or to analyze the implications of a complex process or strategy.

System-1 Thinking

Reactive thinking that relies heavily on situational cues, salient memories, and heuristic thinking to arrive quickly and confidently at judgments.