Discuss How Firms Today Can Use "Open Innovation" and "Crowdsourcing

question 161

Essay

Discuss how firms today can use "open innovation" and "crowdsourcing" when trying to develop a new type of handheld recording device.

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Definitions:

Self-employment Tax

The tax self-employed individuals must pay to cover their Social Security and Medicare obligations.

Gross Earnings

The total amount of money an individual earns before any deductions or taxes are applied.

Employment Test

A criterion or series of criteria used to determine the status of individuals as employees or independent contractors for tax and legal purposes.

Moving Expenses

Previously deductible expenses for moving which are necessary for starting a new job, currently only deductible for members of the Armed Forces on active duty moving under orders.