Topic 5

Drivers for invention

• A simple and cost-effective way to protect an innovative shape, appearance or ornamentation.
• An agreement from a government office to give someone the right to make or sell a new invention for a certain number of years.
• A new idea is needed as a result of demand from the marketplace.
• These include personal motivation to express creativity/for personal interest, scientific or technical curiosity, constructive discontent, desire to make money, desire to help others.

First to market

• The technology of the components stays the same, but the configuration of the components is changed to produce a new design.
• The process of discovering a principle. A technical advance in a particular field often resulting in a novel product.
• The first product of its type to be released on the market.
• A product or type of technology that challenges existing companies to ignore or embrace technical change

Intellectual Property (IP)

• A legal term for intangible property such as "creations of the mind" such as inventions and designs that are used in a commercial setting. Intellectual property is protected by law.
• The last to adopt an innovation. They tend to prefer traditions and are unwilling to take risks.
• An idea from one context is used to stimulate ideas for solving a problem in another context.
• When determining the target market, market sectors and segments need to be identified.

Service Mark (SM)

• A legal term for intangible property such as "creations of the mind" such as inventions and designs that are used in a commercial setting. Intellectual property is protected by law.
• A trademark used to identify a service rather than a product.
• An influential individual who can take an invention to market, often by financing the development, production and diffusion of a product into the marketplace.
• An appraisal of economic viability of the proposed design from a market perspective, taking into account fixed and variable costs and pricing. It is typically a summary about potential users and the market.

Shelved technology

• Any company or product that can fulfil similar functions for a similar market.
• An appraisal of economic viability of the proposed design from a market perspective, taking into account fixed and variable costs and pricing. It is typically a summary about potential users and the market.
• These include personal motivation to express creativity/for personal interest, scientific or technical curiosity, constructive discontent, desire to make money, desire to help others.
• Technology that is shelved for various reasons. Sometimes shelved technologies will be rediscovered or taken off the shelf.

Copyright ©

• An indication that an application for a patent has been applied for but has not yet been processed. The marking serves to notify those copying the invention that they may be liable for damages (including back-dated royalties), once a patent is issued.
• A process where a new idea or adoption of a product by the market is actively slowed.
• A list of requirements, constraints and considerations that a yet-to- be-designed product must fulfil.
• A legal right that grants the creator of an original work exclusive ownership for its use and distribution. Usually for a limited time and within geographical boundaries, copyright allows the creator to receive compensation for their intellectual effort.

Design protection

• A simple and cost-effective way to protect an innovative shape, appearance or ornamentation.
• A product or type of technology that challenges existing companies to ignore or embrace technical change
• These include personal motivation to express creativity/for personal interest, scientific or technical curiosity, constructive discontent, desire to make money, desire to help others.
• Technological advances that form the basis of new designs may be applied to the development of different types of products/systems, for example, laser technology.

Patent

• An agreement from a government office to give someone the right to make or sell a new invention for a certain number of years.
• On occasion, the inventor is also the product champion and/or entrepreneur. This requires specific skill sets and actions to fulfil these roles and the reason inventors often take on multiple roles. Effective design draws from multiple areas of expertise, and this can be utilised at different stages of product development.
• A tool for mapping out the four stages of a product's commercial life: Launch; Growth; Maturity; Decline.
• A product or type of technology that challenges existing companies to ignore or embrace technical change

Patent pending

• The wide acceptance (and sale) of a product.
• An indication that an application for a patent has been applied for but has not yet been processed. The marking serves to notify those copying the invention that they may be liable for damages (including back-dated royalties), once a patent is issued.
• The business of putting an invention in the marketplace and making it a success.
• A high risk innovation strategy that introduces a new idea, system or product that is very different from the existing paradigm.

Lone inventor

• An individual working outside or inside an organization who is committed to the invention of a novel product and often becomes isolated because he or she is engrossed with ideas that imply change and are resisted by others.
• An appraisal of economic viability of the proposed design from a market perspective, taking into account fixed and variable costs and pricing. It is typically a summary about potential users and the market.
• A new or improved product that meets the needs of consumers and sustains manufacturers
• A legal term for intangible property such as "creations of the mind" such as inventions and designs that are used in a commercial setting. Intellectual property is protected by law.