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Invention and Innovation
Mrs Gutteridge
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How do new business ideas come about?
People using products Ideas developed by people who already have a good understanding Research departments
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Invention Invention = the discovery of new processes and potential new products, typically after a period of research
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Innovation Innovation = the process of transforming inventions into products that can be sold to customers. e.g. board game inventor Could make game themselves Sell their idea to a board game manufacturer
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Famous cases regarding protecting business ideas:
Nike vs Addidas Dyson vs Hoover: 5
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