Question

Which statement is MOST true of intellectual property? Select one: a. It provides the best form of competitive advantage. b. It provides a limited monopoly in exchange for full disclosure. c. It is one possible way to build a competitive advantage. d. None of the above

Answer 1

Answer: intellectual property is "ONE POSSIBLE WAY TO BUILD A COMPETITIVE ADVANTAGE".

Option "C" is the correct option.

Explanation: Intellectual property are the things we create from the mind. They can be art work, literal work or symbols which we use in commerce.

In the industry, intellectual property are those trademark,industrial design, location of the industry, and many others.

This can be a possible advantage for a competition in a business, but not the best form of competition. When we create an attracting trademark that distinguish us from others, it makes our product to stand out as a unique one among others. It also makes one to be able to define the company, for instance if you see a Coca-Cola symbol it makes you remember the taste of Coca-Cola, and you may want to feel the taste again, when placed with a choice with other products.