GLOSSARY

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F

Term Definition
Fast follower

A company that leverages its own corporate advantages to quickly capture market share from the first mover.

Field of use

A licensing option that allows an existing patented device to be used within a restricted domain, such as one clinical area.

FIM (First-In-Man)

First-In-Man; the first time a device or technology is used in a human subject.

Financial model

A detailed numerical articulation of a company's costs and revenue over time. It tracks both the cost of developing the innovation and bringing it to the market as well as market revenue and it follows these costs and revenue over a period of five to seven years.

First mover strategy

An attempt by a company to be first to market with any innovation.

Flow of money analysis

Analysis, aimed at identifying key stakeholders, that is focused on payments to providers of health care services.

Freedom to operate

The ability to commercialize a product, without infringing on the intellectual property rights of others.

Fully burdened cost

The total cost of an employee, including salary, benefits, associated overhead, and fees.

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