Course Learning Outcomes-Covered Recognize the dynamics and the importance of

Course Learning Outcomes-Covered

Recognize the dynamics and the importance of managing technological innovation strategically. (LO-1)
Explain of the concepts, models for formulating strategies, defining the organizational strategic directions and crafting a deployment strategy.(LO-3)
Assignment Marks: 10
Students are requested to read chapter 9 “Protecting Innovation” from their book Strategic Management of Technological Innovation.
Based on the conceptual knowledge and understanding obtained from the readings –
Section 1: Theoretical Foundations (3 Marks)
Q1. Explain the concept of intellectual property (IP) and its importance in protecting innovations. (1.5 Mark)
Q2. Differentiate between patents, copyrights, trademarks, and trade secrets, providing an example of what each might protect in the realm of technological innovation. (2.5 Marks)
Section 2: Scenario Analysis (7 Marks)
Consider a scenario where a small tech startup has developed a revolutionary new type of battery technology that could significantly extend the battery life of electronic devices. The startup is concerned about protecting their innovation from competitors.
Q3. Based on the scenario, recommend the most appropriate IP protection mechanisms the startup should use. Justify your recommendations. (3 Marks)
Q4. Discuss potential challenges the startup might face in protecting its innovation and how it might overcome them. (3 Marks)
NOTE: It is mandatory for the students to mention their references, sources and support each answer with at least 2 peer reviewed journal.