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Hidden Innovation
{{Short description, Innovation not recognized by traditional indicators Hidden innovation or Invisible innovation refers to innovation that is not captured or recognised by traditional indicators such as research and development (R&D) spending or number of patents. The term generally refers to innovation that takes place outside science & technology sectors, which are the primary sectors which invest in formal R&D and patents. For example, although technological innovations are often developed in the oil & gas sector through oil exploration activities, these innovations are unaccounted for in innovation metrics because oil exploration is not counted as formal R&D. Other types of innovation, including social innovation, can be classed as hidden innovation. Although originally coined in the 90s by Diana Hicks and Sylvan Katz in their research on the hidden research system involving hospital researchers, and Mike Hopkins research on genetic testing within the UK healthcare system, the ...
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Innovation
Innovation is the practical implementation of ideas that result in the introduction of new goods or service (economics), services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity, realizing or redistributing value (economics), value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies. Innovation often takes place through the development of more-effective product (business), products, processes, Service (economics), services, technologies, art works or business models that innovators make available to Market (economics), markets, governments and society. Innovation is related to, but not the same as, ''invention'': innovation is more apt to involve the practical implementation of an invention (i.e. new / improved ability) to make a meaningful impact in a market or society, and not all innovations requir ...
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Research And Development
Research and development (R&D or R+D), known in some countries as OKB, experiment and design, is the set of innovative activities undertaken by corporations or governments in developing new services or products. R&D constitutes the first stage of development of a potential new service or the production process. Although R&D activities may differ across businesses, the primary goal of an R&D department is to new product development, develop new products and services. R&D differs from the vast majority of corporate activities in that it is not intended to yield immediate profit, and generally carries greater risk and an uncertain return on investment. R&D is crucial for acquiring larger shares of the market through new products. ''R&D&I'' represents R&D with innovation. Background New product design and development is often a crucial factor in the survival of a company. In a global industrial landscape that is changing fast, firms must continually revise their design and range of ...
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Patent
A patent is a type of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a limited period of time in exchange for publishing an sufficiency of disclosure, enabling disclosure of the invention."A patent is not the grant of a right to make or use or sell. It does not, directly or indirectly, imply any such right. It grants only the right to exclude others. The supposition that a right to make is created by the patent grant is obviously inconsistent with the established distinctions between generic and specific patents, and with the well-known fact that a very considerable portion of the patents granted are in a field covered by a former relatively generic or basic patent, are tributary to such earlier patent, and cannot be practiced unless by license thereunder." – ''Herman v. Youngstown Car Mfg. Co.'', 191 F. 579, 584–85, 112 CCA 185 (6th Cir. 1911) In most countries, patent rights fall under private la ...
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Genetic Testing
Genetic testing, also known as DNA testing, is used to identify changes in DNA sequence or chromosome structure. Genetic testing can also include measuring the results of genetic changes, such as RNA analysis as an output of gene expression, or through biochemical analysis to measure specific protein output. In a medical setting, genetic testing can be used to diagnose or rule out suspected genetic disorders, predict risks for specific conditions, or gain information that can be used to customize medical treatments based on an individual's genetic makeup. Genetic testing can also be used to determine biological relatives, such as a child's biological parentage (genetic mother and father) through DNA paternity testing, or be used to broadly predict an individual's ancestry. Genetic testing of plants and animals can be used for similar reasons as in humans (e.g. to assess relatedness/ancestry or predict/diagnose genetic disorders), to gain information used for selective breed ...
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NESTA
Nesta (formerly NESTA, National Endowment for Science, Technology and the Arts) is a British foundation, registered as a charity, which supports innovation. Nesta was originally funded by a £250 million endowment from the UK National Lottery. The endowment is managed through a trust, and Nesta uses the interest from the trust to meet its charitable objects and to fund and support its projects. History NESTA was set up in 1998 by an independent endowment established by an Act of Parliament, the National Lottery Act 1998. It had been a Labour Party manifesto promise. Lord Puttnam was the first Chair. In 2002 it was awarded £95 million. In October 2010, the government announced that it would transfer NESTA's status from an executive non-departmental public body to a new charitable body. In April 2012, following the appointment of chief executive Geoff Mulgan, the body became an independent charity, shortening its name to Nesta. With this change, Nesta shifted its focus ...
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