-The evolutionary tree indicates that humans and orangutans shared a common ancestor approximately ________.
Definitions:
Imitation Problem
The potential for a firm’s rivals to produce a close variation of (imitate) a firm’s new product or process, greatly reducing the originator’s profit from R&D and innovation.
Innovation Diffusion
The process by which new ideas, practices, or technologies spread within a population or society, influencing patterns of adoption and utilization.
Patents
Patents are legal documents granted by the government that give inventors exclusive rights to their innovations for a specific period, preventing others from making, using, or selling the invention without permission.
Expected-Rate-of-Return Curve
A graphical representation showing the expected return of different portfolios or investments as a function of their risk.
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