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What is invention?

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Invention is the process of discovering a principle that allows a technical advance in a particular field, resulting in a novel product.

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What are some drivers for invention?

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Drivers for invention include personal motivation to express creativity, scientific or technical curiosity, constructive discontent, desire to make money, and desire to help others.

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What are the advantages of being a lone inventor?

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Lone inventors can have completely new and different ideas.

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What are the disadvantages of being a lone inventor?

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Lone inventors may lack marketing support, often feel isolated, and face resistance from others.

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What is Intellectual Property (IP)?

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Intellectual Property is a legal term for intangible property such as creations of the mind, including inventions and designs used in a commercial setting.

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What are the benefits of Intellectual Property?

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Benefits of IP include differentiating a business from competitors, providing revenue streams through sales or licensing, offering customers something new, and establishing a valuable asset.

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What is a patent?

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A patent is an agreement from a government office that gives someone the right to make or sell a new invention for a certain number of years.

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What is the difference between market pull and technology push?

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Market pull is when a new idea is needed due to demand from the marketplace, while technology push is when scientific research leads to advances that create new ideas.

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What is sustaining innovation?

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Sustaining innovation refers to innovative ideas that are constantly updated to maintain their success.

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What is disruptive innovation?

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Disruptive innovation is a product or technology that challenges existing companies to embrace technical change.