LaserTech Is a Manufacturer of Industrial Lasers and Has Developed

question 47

Multiple Choice

LaserTech is a manufacturer of industrial lasers and has developed a new, patented technology that allows its customers to manufacture their products more precisely with a higher level of consistency and at a lower cost than they could previously. LaserTech's executives believe that no rivals have a similar technology and that it would be very difficult for rivals to copy this technology since the benefits of the new technology can only be realized within LaserTech's system, which includes processes that are protected by trade secrets, making it difficult for rivals to understand the relationship between the company's new technology and its competitive advantage.
-LaserTech's new technology appears to be

• A) valuable and rare but not costly to imitate.
• B) valuable and either rare or costly to imitate.
• C) valuable but neither rare nor costly to imitate.
• D) valuable, rare and costly to imitate.

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Definitions:

Popular Pressure

Influence exerted by public opinion on elected officials or decision-makers to take a specific action or adopt certain policies.

Single Election Year

A Single Election Year refers to any specific year in which elections are held, typically referring to the regularly scheduled federal, state, or local elections.

Separation of Powers

A principle of governance where the state's powers are divided among distinct branches to prevent any one group from gaining too much power.

Federalism

A system of government in which power is divided between a central (national) government and regional (state or provincial) governments.