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.