Innovation and Commercialization


Added on  2023-01-19

15 Pages1220 Words90 ViewsType: 90
Design and Creativity
Innovation and
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Table of content
Importance of commercial funnel
Access of funding
Tools used by organization for the intellectual property rights.
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Innovation refers to make improvement in the existing products, procedures, strategies and
techniques that can help to maximize the profit of the organization. This also means to
bring some innovative products in the market which are not being provided by the other
company. Commercialization means to formal licensing of the product. This presentation
examine the importance of the commercial funnel and funding used by the organisation.
Further, it has analysed the tools used for protecting the intellectual property rights.
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P5 The importance of commercial funnel & the application of
new product development processing for the innovation
New product development is the process that will help the Samsung company to set out the stages to produce its
innovative product in the market. This begin with the generation of the new idea and end with product
introduction in the market.
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