Answer: The correct answer is "an opportunity niche".
Explanation: James lives near a university and observes that almost every student uses a cell phone. He decides to open a small shop offering repair services for cell phones. His shop is an instant success. James has satisfied an area of need called <u>an opportunity niche.</u>
The concept of a niche of opportunity refers to the existence of a group of people or companies that have certain needs, and who have the will to meet them and economic capacity to acquire the services or goods necessary for this,<u> in this case James les He offered the good or service to meet this need.</u>
In economics, the resource that encompasses the natural resources used in production
Answer:
Explanation:
There are various steps that you should take to make sure that your product does not violate any IPs. First, you should make sure that those involved with the product sign an NDA. This document prevents these individuals from talking about the product with others, which prevents it's details from leaking and allowing competitors to beat you to market by releasing their own version of your product first. The other step that you should take would be to patent the design and trademark the name of the product. Doing so will make sure that the product is unique and that it does not interfere with already existant IP's, as well as preventing others from infringing on your product.