Reciprocal licensing arrangements between firms in order to avoid research duplication and build on each other's innovations.
what is innovations?
- For its part, innovation might relate to a brand-new item or a modification applied to an already-existing concept, product, or industry.
- The first telephone was undoubtedly an invention, the first cell phone was either an invention or an innovation, and the first smartphone was undoubtedly an advancement.
- The process of turning an idea or invention into a product or service that adds value and/or attracts customers is known as innovation.
- Examples of innovation come in a wide variety of forms, including social innovation, incremental innovation, and open innovation, among others.
- A new or altered entity that realizes or redistributes value is what is meant by the definition of innovation.
To learn more about innovations refer to
https://brainly.com/question/17931211
#SPJ4
