If a Firm Possesses Proprietary Technology,the Best Option for That

question 112

Multiple Choice

If a firm possesses proprietary technology,the best option for that firm would be to:

• A)produce that technology in-house so that the competitors do cannot obtain it.
• B)produce that technology through licensing to lower costs.
• C)outsource that technology to lower costs.
• D)share the technology to make the industry more competitive.

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Definitions:

Punitive Damages

Monetary compensation awarded in a lawsuit over and above actual damages, intended to punish the defendant for egregious conduct.

Restitution

The act of compensating for loss, damage, or injury caused; often involves the return of property to its rightful owner.

Rescind

To nullify, terminate, or abrogate a law, order, or agreement.

Contract Rescinded

The act of legally declaring a contract null and void, as if it never existed, typically due to fraud, mistake, or another reason making the contract not viable.