To generate ideas for new products, some firms will purchase the rights to use another firm's technology. This is known as
A)R&D.
B)licensing.
C)consumer research.
D)outsourcing.
E)brainstorming.

Question

Quizplus · Accepted Answer

Licensing involves purchasing the rights to use another firm's technology or ideas for a new product. R&D refers to researching and developing new products from scratch, consumer research involves gathering feedback from potential customers, outsourcing refers to delegating tasks to external firms, and brainstorming is a creative technique for generating ideas within a team.

To Generate Ideas for New Products, Some Firms Will Purchase