There Are Two Primary Rules of Thumb for Deciding If

question 43

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 in question is directly related to its competitive advantage. Second, a firm should determine if its intellectual property:

• A) is less than 20 years old
• B) could be licensed to another company
• C) has value in the marketplace
• D) is something that was developed "in-house"
• E) rightfully belongs to the firm or the employees who developed it

---

Definitions:

Fixed Formula

A predetermined method or calculation used to determine allocations, such as budget distributions or compensation adjustments, based on set criteria.

Profit-sharing Plans

A type of incentive plan that distributes a portion of an organization's profits to its employees, linking compensation to the company's financial performance.

Designing

The act of creating, planning, and executing a plan or structure for a project, system, or object with specific objectives in mind.

Nonmonetary Reward Plan

A scheme that recognizes and rewards employees through means other than financial compensation, such as recognition or flexible work hours.