Patents

question 69

Multiple Choice

Patents:

• A)are meant to encourage innovation.
• B)discourage innovation.
• C)encourage innovation and competitive pricing.
• D)lead to too much output produced.

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Definitions:

Companywide

Pertaining to or affecting all parts of a business or the entire company.

Possession Utility

The value or usefulness that comes from a consumer being able to possess a product, enabling its use when and where the consumer wishes.

Ownership Utility

The added value or satisfaction a consumer obtains from owning a product and being able to use it as desired.

Form Utility

The value added to products through the process of transformation, creating a more desirable product for consumers.