While the Idea Generation Stage of the New-Product Development Process

question 44

True/False

While the idea generation stage of the new-product development process generates a great number of potential ideas, in reality, very few of these ideas ever become marketed products.

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Definitions:

Contemplation

The action of looking thoughtfully at something for a long time or thinking about something deeply.

Probate

The judicial process in which a will is proven in a court of law to be valid or invalid, and the legal process of administering the estate of a deceased person.

Bailment Contract

An agreement where personal property is transferred from the bailor to the bailee for a specific purpose, with the expectation of return.

Bailee Liability

refers to the legal responsibility of a bailee (a person or entity who temporarily holds property belonging to another) to take reasonable care of the goods in their custody.