BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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an existing idea/product/process
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an existing product/process/idea
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a totally new idea/product/process
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the alteration of out of date ideas/products/processes
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Detailed explanation-1: -Invention is the creation of new products or processes. These can be completely novel and untried or may be derived from previous products, but with sufficient new features or technical attributes, that a firm can patent the design or copyright ideas included in the development.
Detailed explanation-2: -1. Invention is the generation of a new idea aimed at solving a specific technical problem. Innovation can be seen as a process of interaction and feedback during the various stages of product development. Not all inventions are commercialized, so it is clear that not all inventions result in innovation.
Detailed explanation-3: -Product development typically refers to all stages involved in bringing a product from concept or idea through market release and beyond. In other words, product development incorporates a product’s entire journey.
Detailed explanation-4: -The invention process can vary from invention to invention, but the typical invention process involves the following steps: (1) documentation, (2) confidentiality, (3) patent search, (4) patent application and (5) selling or licensing.
Detailed explanation-5: -An idea is generally theoretical in nature and needs to be proved either with a solution or a prototype, . An invention is the extension of the idea that is developed. For an idea to become an invention, it needs to follow the path of most resistance.