Management of Innovation 301
Digital Report Assessment
Despite these reasons, having their innovation being patented can bring several
benefits to the company. It allows time to decide if he wanted to switch to the complete
application. Besides, there are a lot of companies start to follow to apply patents with the
purpose of increasing the value of the company to impress the shareholders (Carlsson et al
2008, 552). Thus, Jeremy is on the right track to apply the patent for his innovation.
3.1.3 Trademark
Trademarks is also known as “a distinctive signs that identify a certain product or
service produced or supplied by a company” (Sinaj and Nuhiu 2012, 322). Any violation on
trademark is considered as illegal and the company who own the trademark can sue the party
who violated it. GroupMap has currently has one trademark registered under IP Australia of
Australian Government since 22 nd August 2013 (Intellectual Property in Australia 2014). In
this case, GroupMap is on the right track. This is because it is important to own valid
trademark rights entitles in order to prevent third parties from using the similar mark for the
same product or services to the trademark owner (Alter 2010, 60).
3.1.4 Trade Secret
Trade secret is one of the intellectual property method. Firstly, trade secret must have
information such as formula or method of the product. Secondly, the information must be
valuable to the organisation and finally, the organisation must be liable to protect the
information (Hannah 2006, 17). If well protected, the secrets can be keep forever while
patents normally lose the protection status after 20 years. However, if the secrets once are
known to the public, there is no legal to protect the information (Hannah 2006, 17).
GroupMap also using this method to protect his innovation. This could help to save the cost
of patent applications.
3.2 Managing Organisational Knowledge and Innovation Strategies
3.2.1 Resource-based view framework
Resource-based view is “a framework to understand how competitive advantage is
achieved and how the advantage can be sustained over time” (Gibbert 2006, 125). This
framework is “focusing on internal activities of the firm” as it has evolved in response on the
“industry structure and strategic positioning as the factors of competitive advantages” (Trott
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