If a Firm Develops a New Product and Applies for a Patent

question 40

Multiple Choice

If a firm develops a new product and applies for a patent to protect themselves from others building the same product,the firm is following which strategy?

• A)Locking in customers
• B)Building switching costs
• C)Creating alliances
• D)Raising barriers to entry

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Definitions:

Language

A system of communication using sounds, symbols, or gestures by which individuals express thoughts, feelings, and ideas.

Stress

The physical or mental response to an external cause, such as pressure, challenge, or demand.

Hormone

A chemical substance produced in the body that controls and regulates the activity of certain cells or organs.

Cortisol

Cortisol is a steroid hormone produced by the adrenal glands, often released in response to stress and used as a marker for the body's stress response.