Final answer:
The four types of innovation based on business concepts are Product, Process, Marketing, and Organizational Innovation. The U.S. Patent Office however grants patents for three types of innovations: Utility, Design, and Plant patents, which protect the legal rights of inventors.
Step-by-step explanation:
The four types of innovation are commonly categorized as follows:
- Product Innovation - The introduction of a new or significantly improved product or service.
- Process Innovation - A new or enhanced method of production or delivery.
- Marketing Innovation - Development of new marketing strategies that improve product placement or consumer engagement.
- Organizational Innovation - Changes in business practices, workplace organization, or external relations that improve a company's performance.
However, according to the U.S. Patent Office, there are three specific types of patents that protect innovations:
- Utility patents for any new and useful process, product, or machine, or a significant improvement to existing technologies.
- Design patents for new, original, and ornamental designs.
- Plant patents for the discovery of new plant types that can be asexually reproduced.
Innovations such as these drive cultural change, sometimes causing a cultural lag while society catches up with technological advancements, and can be heavily influenced by globalization.