Innovation Is

question 57

Multiple Choice

Innovation is

• A) another term for something new.
• B) the transformation of an invention into something that is useful to humans.
• C) the term for invention when a firm obtains a patent.
• D) the term for inventions in the electronic and computer industries.

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Definitions:

Affiliated Directors

Members of a company's board of directors who have a close relationship to or are employed by the company, potentially influencing their decisions.

Outside Directors

Board members who are not executives or employees of the company, providing independent oversight.

Business Contacts

Individuals or organizations with whom a company communicates or engages in transactions.

Revised Model Business Corporation Act

An updated set of model laws intended to assist states in drafting legislation that governs corporate formation, operation, and dissolution.