What is proprietary technology?
Understand the Problem
The question is asking for the definition and explanation of proprietary technology, which refers to technology that is owned by an individual or a company and has restricted access or use. It is important to clarify what this entails and its implications in various contexts.
Answer
Proprietary technology is an application, tool, or system that belongs exclusively to an enterprise.
Proprietary technology involves any application, tool, or system that is exclusively owned by a business or individual for producing and selling products or services.
Answer for screen readers
Proprietary technology involves any application, tool, or system that is exclusively owned by a business or individual for producing and selling products or services.
More Information
Proprietary technology offers a competitive advantage as it is unique and exclusively controlled by its owner, reducing the risk of imitation.
Sources
- What is Proprietary Technology? - Investopedia - investopedia.com
- Proprietary Technology Definition: 187 Samples | Law Insider - lawinsider.com
- Proprietary Technology - Verify 365 - verify365.app
