Asked by Michael Singgih on Apr 29, 2024
Verified
To generate ideas for new products, some firms will purchase the rights to use another firm's technology. This is known as
A) R&D.
B) licensing.
C) consumer research.
D) outsourcing.
E) brainstorming.
Licensing
The act of granting rights by one party to another to use intellectual property such as patents, trademarks, or technology under agreed terms and conditions.
Rights to Use
The legal permissions granted to an individual or organization to utilize a property, product, or service according to specified conditions.
New Products
Items or services introduced into the market that offer novel features or benefits, distinct from existing offerings.
- Understand the significance of licenses, research and development partnerships, and cooperative efforts in the creation of products.
Verified Answer
ZK
Zybrea KnightMay 02, 2024
Final Answer :
B
Explanation :
Licensing involves purchasing the rights to use another firm's technology or ideas for a new product. R&D refers to researching and developing new products from scratch, consumer research involves gathering feedback from potential customers, outsourcing refers to delegating tasks to external firms, and brainstorming is a creative technique for generating ideas within a team.
Learning Objectives
- Understand the significance of licenses, research and development partnerships, and cooperative efforts in the creation of products.