Question 1

Snaine Fashions has launched its new collection of designer bags. It uses its registered logo at the front of all its branded bags. The brand logo is attractive and symbolizes the class that the brand name carries. The logo also helps customers quickly recognize and associate the bags with its maker. In this scenario, the logo being used by Snaine Fashions is a _____.

Accepted Answer

A)  trademark 
B)  patent 
C)  franchise 
D)  permit

Question 2

Jason is an artist who has over two decades of experience creating wonderful sculptures. He has obtained several copyrights for his sculptural masterpieces. In this context, which of the following statements is true of a copyright?

Accepted Answer

A)  Jason must have been required to register before obtaining copyrights for his work. 
B)  Jason's copyrights must have been granted by the national government. 
C)  Jason's copyrights will be considered active 60 days after their registrations. 
D)  Jason's work will be protected during his lifetime, plus an additional 70 years after his death.

Question 3

Shane has researched stem cells for almost two years and has made a unique contribution to the healthcare sector with his innovation related to the treatment of congenital deformities. He needs to acquire a legal protection for his work, for which he is willing to disclose the technical details associated with his creation to the issuing authority. Which of the following will be granted to Shane in this scenario?

Accepted Answer

A)  A copyright 
B)  A patent 
C)  A trademark 
D)  A permit

Question 4

Which of the following statements is true in the context of innovation as a tool for global growth?

Accepted Answer

A)  Invention is the commercialization of a new innovation. 
B)  Innovations should necessarily build on new inventions. 
C)  Innovations are successful when based on organized plans. 
D)  Innovation is the combination of ideas to create something desired by customers.

Question 5

Dasat Automotives intends to remodel the design of its cars' existing interiors to increase the level of the car seats' comfortability. This change exemplifies:

Accepted Answer

A)  effectiveness-improving innovation. 
B)  viability innovation. 
C)  existential innovation. 
D)  performance-improving innovation.

Question 6

In the context of legal protection of a recognizable brand name, design, or logo, the tagline "Fly to higher limits" used by Dquaine Airlines along with a logo of its country's map is referred to as a _____.

Accepted Answer

A)  service mark 
B)  patent 
C)  license 
D)  permitted royalty

Question 7

The design and research team at GrowGen Next has worked on changing children's perspective on scans and other diagnostic tests by surrounding the designated areas or clinics with fun-filled items and activities. The children, who were previously scared to enter the scan room, now find it entertaining as the complete set-up has been modified by displaying cartoon characters throughout the scan process. This scenario exemplifies the concept of _____.

Accepted Answer

A)  individualism 
B)  innovation 
C)  fortification 
D)  attribution

Question 8

Samantha, the technical lead at Marrium Infotech, is against the management's decision to try market-creating innovations instead of performance-improving or efficiency-enhancing innovations. The management justifies its view by saying that this would create a new market and enhance the company's growth. Which of the following statements can Samantha use to justify her viewpoint?

Accepted Answer

A)  The market-creating innovation will fail to create a new class of consumers. 
B)  The market-creating innovation results cannot be tested in the market before the product's release. 
C)  Implementing market-creating innovations will lead to a decrease in the company's revenue. 
D)  Implementing market-creating innovations will prevent a company from reaching prospective customers.

Question 9

Gama Technosoft plans to remodel and restructure their cell phones and to launch a new version. However, Linda, the head of the design team, was skeptic of this idea. The management tried to convince Linda saying that it will keep the company growing as the new product will be refreshing for the customers. Which of the following statements can justify Linda's viewpoint in this scenario?

Accepted Answer

A)  It would only attract first-time buyers and not the existing customers. 
B)  An improvement to the existing product will discourage private spending by increasing taxes. 
C)  The sales of a new model will not be able to replace the sales of the existing model. 
D)  It will have limited potential to capture additional market share.

Question 10

Vaiwei Technologies has a unique way of innovating new designs for each electronic device they build. The research and design team at Vaiwei does not follow basic templates. Instead, they choose to go in-depth about the requirement specification of the device to be designed and constructed and then build it based on their analysis. In this process, the researchers and designers at Vaiwei question preexisting assumptions about the way the company has done things in the past. Which of the following steps of the innovator's imperative is demonstrated in this scenario?

Accepted Answer

A)  Uncovering principles 
B)  Minimizing goals 
C)  Reaching out 
D)  Going local

Question 11

In the context of the steps of the innovator's imperative, which of the following is a difference between reaching out and uncovering principles?

Accepted Answer

A)  Unlike in reaching out, the step uncovering principles explores why a product or service works. 
B)  Unlike in uncovering principles, the step reaching out deals with questioning preexisting assumptions about a customer. 
C)  Reaching out is the first step of the innovator's imperative, whereas uncovering principles is the second step of the innovator's imperative. 
D)  Reaching out is the final step of the innovator's imperative, whereas uncovering principles is the first step of the innovator's imperative.

Question 12

In the context of company culture, which of the following statements is true of Google's "70-20-10 rule"?

Accepted Answer

A)  Employees are expected to divide their time in the following manner: 70 percent on the main tasks, 20 percent on related projects, and 10 percent on exploratory projects. 
B)  Employees are expected to divide their time in the following manner: 70 percent on related projects, 20 percent on the main tasks, and 10 percent on exploratory projects. 
C)  Employees are expected to divide their time in the following manner: 70 percent on exploratory projects, 20 percent on related projects, and 10 percent on community service. 
D)  Employees are expected to divide their time in the following manner: 70 percent on the main tasks, 20 percent on community service, and 10 percent on organizational management.

Question 13

GlobalHead Foundation is a profit-making organization that conducts welfare programs for differently-abled children. It strives to keep its pace with its competitors and comes up with equivalent programs that can benefit the children. Recently, the management of GlobalHead had ideas that could put it in the forefront of the healthcare sector. However, the company has been reluctant to take risks and go beyond its usual workflow. In this scenario, GlobalHead is required to _____.

Accepted Answer

A)  set a cognitive target 
B)  have a situational constraint 
C)  set a stretch goal 
D)  have a rotational design

Question 14

Which of the following statements is true of market-creating innovations?

Accepted Answer

A)  Investment decisions are usually based on long-term metrics. 
B)  Their potential for generating profits is uncertain. 
C)  Newly-created products can be tested in the market before their release. 
D)  They tend to attract repeat customers rather than first-time buyers.

Question 15

Kyra has been baking and supplying cookies under the brand name Kyra worldwide for almost 20 years. She wants to keep her cookie recipe a trade secret. Which of the following statements is true in this scenario?

Accepted Answer

A)  The recipe cannot be considered a trade secret as it is not an intangible item. 
B)  The trade secret of the recipe will be bounded by a time limit. 
C)  Kyra will not need to disclose the recipe to make it a trade secret. 
D)  Kyra will have to bear filing costs to make the recipe a trade secret.

Question 16

MedForum Labs has invented a new composition to cure chronic arthritis. In the context of protecting intellectual property, the formula used by MedForum to make the composition can be protected as a _____.

Accepted Answer

A)  trademark 
B)  trade secret 
C)  permit 
D)  copyright

Question 17

Juana, a researcher in the field of physics, has created a new way of operating hydraulic equipment at a minimal operational cost. She wants to acquire a patent for her work. Choose the most appropriate reason that might make Juana think otherwise and not apply for a patent for her invention.

Accepted Answer

A)  The acquired patent will not grant her invention protection in foreign countries. 
B)  With inventions related to physics, she cannot ask for government sanctions against patent infringers. 
C)  Patent applications take a long time to be processed as they are the cheapest form of protecting intellectual property. 
D)  She will need to disclose in full to the issuing authority the technical details of the invention.

Question 18

Is market-creating innovation riskier for companies than performance-improving innovation and efficiency-enhancing innovation? Give reasons to support your answer.

Accepted Answer

The answer of Is market-creating innovation riskier for companies than...

Question 19

Kale, Rob, and Sid, who worked for Gramat Tech, quit their jobs and started a new company together that would develop a product competitive enough to be launched in the market alongside the new creation of Gramat Tech. As the three had sound design ideas, they replicated most of the technical aspects of the product that Gramat was developing. However, they lacked knowledge about the science that would make the device operate efficiently. In this scenario, which of the following steps of the innovator's imperative seems to be missing?

Accepted Answer

A)  Uncovering principles 
B)  Minimizing goals 
C)  Reaching out 
D)  Going local

Question 20

Which of the following differentiates market-creating innovations from performance or efficiency innovations making it the least likely choice by companies?

Accepted Answer

A)  Unlike performance or efficiency innovations, market-creating innovations cannot create a new class of consumers. 
B)  Unlike performance or efficiency innovations, market-creating innovations cannot increase a company's revenue. 
C)  Unlike performance or efficiency innovations, market-creating innovations involve investment decisions that are often based on short-term metrics. 
D)  Unlike performance or efficiency innovations, market-creating innovations prevent companies from growing in size.

Exam 12: Global Innovation and Intellectual Property

Jason is an artist who has over two decades of experience creating wonderful sculptures. He has obtained several copyrights for his sculptural masterpieces. In this context, which of the following statements is true of a copyright?

Which of the following statements is true in the context of innovation as a tool for global growth?

Dasat Automotives intends to remodel the design of its cars' existing interiors to increase the level of the car seats' comfortability. This change exemplifies:

In the context of legal protection of a recognizable brand name, design, or logo, the tagline "Fly to higher limits" used by Dquaine Airlines along with a logo of its country's map is referred to as a _____.

In the context of the steps of the innovator's imperative, which of the following is a difference between reaching out and uncovering principles?

In the context of company culture, which of the following statements is true of Google's "70-20-10 rule"?

Which of the following statements is true of market-creating innovations?

Kyra has been baking and supplying cookies under the brand name Kyra worldwide for almost 20 years. She wants to keep her cookie recipe a trade secret. Which of the following statements is true in this scenario?

MedForum Labs has invented a new composition to cure chronic arthritis. In the context of protecting intellectual property, the formula used by MedForum to make the composition can be protected as a _____.

Juana, a researcher in the field of physics, has created a new way of operating hydraulic equipment at a minimal operational cost. She wants to acquire a patent for her work. Choose the most appropriate reason that might make Juana think otherwise and not apply for a patent for her invention.

Is market-creating innovation riskier for companies than performance-improving innovation and efficiency-enhancing innovation? Give reasons to support your answer.

Which of the following differentiates market-creating innovations from performance or efficiency innovations making it the least likely choice by companies?