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Invention & Innovation

This document provides information about invention, innovation, and protecting new ideas for a GCSE Business Studies course. It defines invention as the discovery of new products or processes through research, while innovation is transforming inventions into marketable products. The benefits of innovating are discussed, such as charging higher prices, gaining a competitive advantage, and improving brand image. Methods for protecting ideas are also described, including patents which provide legal protection for inventions for up to 20 years, trademarks which identify a company's products and brands, and copyright which protects creative works. An example is given of Apple suing Samsung for patent infringement.

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296 views14 pages

Invention & Innovation

This document provides information about invention, innovation, and protecting new ideas for a GCSE Business Studies course. It defines invention as the discovery of new products or processes through research, while innovation is transforming inventions into marketable products. The benefits of innovating are discussed, such as charging higher prices, gaining a competitive advantage, and improving brand image. Methods for protecting ideas are also described, including patents which provide legal protection for inventions for up to 20 years, trademarks which identify a company's products and brands, and copyright which protects creative works. An example is given of Apple suing Samsung for patent infringement.

Uploaded by

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Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd

Invention & Innovation

GCSE Business
Studies

Aims and Objectives


Aim:
Level

E-D
C-B
B-A
A*

Understand innovation and


invention
Objectives:
Define innovation and invention
Explain the benefits of innovating
Describe how to protect new ideas
Analyse the usefulness of protecting
business ideas

Starter
Which one of the following is most likely to
create a competitive advantage for a small
business?
A) Having the best reputation for a high quality
after-sales service
B) Having the same product as rivals
C) Selling at higher prices than those of
competitors
D)Lowering prices to encourage additional sales
E) Selling no products in June

Invention & Innovation

Invention

Innovation

Discovery of new products


and processes after a period
of research.

Process of transforming
inventions into products
that can be sold to
customers.

Invention & Innovation

Innovation Advantages
What may be
some of the
advantages to
the business
of innovating
a product like
Dyson
innovating
the vacuum
cleaner?

Innovation Advantages
Can Charge Higher Prices
Develop a competitive advantage
Increase added value
Improve brand image
Improve reputation

Protecting Ideas
How can businesses like Dyson protect
their ideas and make sure no other
businesses copy them?

Patents

Trademar
ks

Copyrigh
ts

HOW TO PROTECT IDEAS

Patents
New inventions
Legal protection for up to 20 years.
Other businesses must have the right
to use the product/features.
If no permission, can sue, and
get compensation.
http://
[Link]/news/technology-170
40699

Trademarks
Protects any sign or symbol that
distinguishes what you offer from your
competitors.
Name, slogan, logo, shape etc
Trademarks must be:
Distinctive
Not illegal, immoral
Renewed every ten years

Copyright
Protects creative or artistic works.
Literature
Art
Music
Website content
Other must pay for the right to
use.
Radio stations pay to play songs!

Patents Apple and


Samsung
In 2012 Apple sued Samsung for
665m or $1bn due to Samsung
copying Apple.
[Link]
Case Study

Checkpoint
Case Study Questions:
Define a patent
Explain how having a patent can help
protect new products.
Innovation is very expensive, as are
patents, do you feel that Apple and
Samsung should continue to innovate and
get patents for their new products or not?

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