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High Tech Corp decides to develop a product based on a completely new technology, with no existing information on the possible challenges and outcomes of bringing such a product to market. This decision illustrates
Act of Nature
Events caused by natural forces without human intervention, often resulting in damage or disruption, such as hurricanes, earthquakes, or floods.
Indefinite Life
Refers to intangible assets that are not expected to have a predictably limited lifespan and therefore are not amortized.
Amortized
The process of gradually writing off the initial cost of an asset or reducing debt over a period, typically in regular, fixed payments that cover both principal and interest.
Research and Development
activities in connection with corporate or governmental innovation. R&D is a component of innovation and is situated at the front end of the innovation lifecycle.
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