There Are Two Primary Rules of Thumb for Deciding If

question 63

Multiple Choice

There are two primary rules of thumb for deciding if intellectual property protection should be pursued for a particular intellectual asset. First, a firm should determine if the intellectual property has value in the marketplace. Second, a firm should determine if its intellectual property ________.

• A) is directly related to its competitive advantage
• B) could be licensed to another company
• C) is more than three years old
• D) is something that was developed "in-house"
• E) rightfully belongs to the firm or the employees who developed it

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Definitions:

Differentiation

A strategy businesses use to make their products or services stand out from competitors', often through unique features or superior quality.

Market Domination

A situation in which a company or product holds a significant share of the market, surpassing competitors in sales, influence, or visibility.

Overriding Concern

A primary or dominant issue that takes precedence over other considerations in decision-making or strategy.

Cost Leadership

Cost leadership is a business strategy that focuses on achieving the lowest operational costs within an industry to offer goods or services at a lower price than competitors.