Entrepreneurship and IP Strategy Nptel Week 2 Answers
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Entrepreneurship and IP Strategy Nptel Week 2 Answers (July-Dec 2025)
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Question 1. What is the primary purpose of Intellectual Property (IP) in innovation and entrepreneurship?
a) To restrict access to all business ideas
b) To protect intangible assets like inventions, branding, and creative works
c) To eliminate competition entirely
d) To avoid collaboration with external partners
Question 2. Which of the following best describes the “market pull” concept in relation to innovation, as explained in the lecture?
a) Developing a product or service and then convincing the market to adopt it.
b) Customers expressing a need, which then drives the development of products or services to cater to that need.
c) Innovating purely for strategic competitive advantage without immediate market demand.
d) Relying solely on internal organizational research and development for new offerings.
Question 3. Why was Biocon’s IPO in 2004 a landmark event in Indian business history?
a) It was the first Indian company to export enzymes.
b) It was the first biotechnology company in India to issue an IPO.
c) It was the first company to collaborate with Unilever.
d) It was the first Indian startup to receive USFDA approval.
Question 4. Following are levers of Business model
a) Value proposition
b) Target customer
c) Supply chain
d) All of the above
Question 5. Open source innovation projects can be
a) Android
b) OSDD
c) Jio
d) Both a & b
These are Entrepreneurship and IP Strategy Nptel Week 2 Answers
Question 6. Product or process technology can be
a) Copyright
b) GI
c) Patent
d) All of the above
Question 7. According to the first classification of innovation discussed, which type of innovation involves a novel change in both component knowledge and component configuration?
a) Incremental
b) Modular
c) Architectural
d) Radical
Question 8. According to the Indian Patents Act 1970, an “invention” must possess which of the following characteristics?
a) It must be a new product or process, involve an inventive step, and be capable of industrial application.
b) It must be a creative thought, a new imagination, and easily adaptable by the market.
c) It must be a “jugaad” that provides a quick and efficient solution to an existing problem.
d) It must be a discovery that has been anticipated by previous publications but offers a unique aesthetic design.
Question 9. According to the lecture, who is credited with suggesting the arrival of a “knowledge economy” in 1993, highlighting the growing importance of intangible assets?
a) Bill Gates
b) Steve Jobs
c) Peter Drucker
d) Michael Porter
Question 10. Frugal innovation may be referred sometimes by common people as
a) New invention
b) Jugad
c) Invention
d) All of the above
These are Entrepreneurship and IP Strategy Nptel Week 2 Answers