BIO375H5 Study Guide - Midterm Guide: Trastuzumab, Generation Gap, Design Patent
Document Summary
Question 3 commodity products vs. differentiated products (medical device products) Question 4 porter five forces model: method to look at industry rivalry through forces exerted by suppliers, buyers, substitute products, barriers to entry, and intrinsic industry rivalry, five forces govern competitive advantage in an industry. Supplier"s influence: the amount of power a supplier has to bargain with you (higher power to bargain means higher influence) Buyer"s influence: the power the buyer has depends on the type of product (i. e. commodity product vs. differentiated product) Substitute"s influence: the substitute power depends on whether there are any substitute products available on the market. Questions 6 to 9 patents: patents form of intellectual property registration to capture value of innovation, discovery, invention. Design: ornamental for new, original, and ornamental design of an article of manufacture (non-functional, non-functional compared to utility patents. If a new variety of a plant is developed.
