It has long been conventional to distinguish between invention (the idea creating a new product or process) and innovation (the application of the idea in a commercial setting). The process of commercialising technology is now seen as a much more complicated process, involving technical feasibility testing, commercial development and design as well as other issues. Technological development is a continuous, dynamic process and constant reinvestment in updating technology is essential.
KeywordsForeign Direct Investment Host Country Technology Transfer Multinational Enterprise Multinational Firm
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