Glossary: Research & Development
Glossary of key terms: Unit 5.6 Research & Development (HL Only)
Refers to incremental innovation, which adjusts or develops a product or process that already exists.
Legal protection for the owners of published works, including those of authors, artists, composers, journalists, musicians, photographers, and film directors.
The section of R&D that is concerned with adapting existing ideas and products in order to commercialise new products in a financially feasible way.
The commercial of a new idea in order to fulfil existing customer needs or to create an unmet customer wants (desires).
Refers to innovation that involves creating entirely new products and/or processes.
Type of innovation that involves R&D focusing on radical innovation that has the capability of changing the nature of a market.
The exclusive right given to the registered owner to commercialise an invention, for a pre-determined length of time.
Type of innovation that involves R&D focusing on altering customer perceptions of a brand or product.
Type of innovation that involves R&D focusing on developing new methods of production (or work practises) or product delivery.
Type of innovation that involves R&D focusing on creating new products or developing (improving) existing ones.
A test (or trial) version of a product to determine whether it addresses the unmet needs of customers, thereby gauging the chances of commercial success.
The section of R&D that is concerned with the creation of new ideas and new products.
Research and development (R&D)
The process of creating new products (goods and services) and processes (how things are down), in order to meet market needs.
A rising (growing) industry as there is significant growth potential in the market, so R&D expenditure is justified.
Sunset (declining) industry
A declining industry as there is no or negative growth in the market, so R&D expenditure is minimal or withdrawn.
The sole right to the owner to use a particular sign or symbol that belongs to the organization, such as brand names and business logos.
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