Explanation of Key Innovation Terms

Term Meaning Simple Example
Cohort A group of people who participate in a program or activity together. Students admitted into a training program in the same year.
Prototype An early or trial version of a product created to test an idea. A demo mobile app before final release.
Patent A legal protection that gives the inventor exclusive rights to an invention. A registered invention that others cannot copy.
Prototype Developed Indicates that a functional or test version of an idea has been created. A working model of a smart device.
Prototype Patented Shows that the invention behind the prototype has been legally protected. A patented smart device prototype.

Key Takeaway

  • Cohort refers to people.
  • Prototype refers to an early product.
  • Patent refers to legal protection.
  • Prototype developed means it exists.
  • Prototype patented means it is protected by law.

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