An Online Auction Used for Sourcing

question 46

Multiple Choice

An online auction used for sourcing:

• A)Typically drives prices up as suppliers compete against each other.
• B)Is used in situations similar to negotiation.
• C)Can hurt supplier relationships.
• D)Can only consider price.

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Definitions:

U.S. Patent System

The governmental body responsible for granting patents in the United States, providing inventors exclusive rights to their inventions for a limited period.

Patented

Describes a legal status granted to an invention that provides the patent holder with exclusive rights to use, make, sell, or distribute the invention for a certain period of time.

Trade Secrets

Confidential business information that provides an enterprise with a competitive edge, legally protected from theft or disclosure.

Competitor

An individual, organization, or entity that offers a similar product or service and competes in the same industry or market as another organization.