Competition Driven by Innovation

4 important questions on Competition Driven by Innovation

What is a Patent?

A form of intellectual property which gives the inventor the exclusive rights to benefit from commercialising a technology for a specified time period in exchange for public disclosure of the underlying idea.

(=often a temporary monopoly)

What are Trade Secrets?

Valuable proprietary info which is not in the public domain and where the firm makes every effort to maintain its secret.


Example: Coca-Cola, Nutella

What are first-movers advantages?

Competitive benefits that accrue to the successful innovator.
  • Higher grades + faster learning
  • Never study anything twice
  • 100% sure, 100% understanding
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What is Cloud Computing?

A real-time network of shared computing resources via the Internet.
Example: Google Drive

The question on the page originate from the summary of the following study material:

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