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What Is an Innovation? What Are the Types of Innovations

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What is an innovation? What are the types of innovations?


Definitions:

Buyer

An individual or entity that purchases goods or services.

Security Interest

A legal claim or right on property that is created by a security agreement as collateral to secure the performance of an obligation, such as repaying a loan.

Farm Products

Goods produced through agricultural activities, such as crops, livestock, and the products derived from them.

Financing Statement

A document filed by a creditor to give public notice to third parties of the creditor's interest in the debtor's personal property used as collateral.

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