Define a patent as it relates to intellectual property protection.
What will be an ideal response?
ANSWER: A patent provides the owner with exclusive rights to hold, transfer, and license the production and sale of the patented product or process. Design patents last for 15 years; all others last for 20 years. The objective of a patent is to provide the holder with a temporary monopoly on his or her innovation and thus to encourage the creation and disclosure of new ideas and innovations in the marketplace. Securing a patent, however, is not always an easy process.
A patent is an intellectual property right. It is the result of a unique discovery, and patent holders are provided protection against infringement by others. In general, a number of items can qualify for patent protection, among them processes, machines, products, plants, compositions of elements (chemical compounds), and improvements on already existing items.
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A) profit B) audience C) segment D) usage E) customers
A ________ is the outcome that motivates a customer's buying behavior
A) benefit B) demand C) value D) need E) want
An objective of activity-based management is to:
a. Eliminate the majority of centralized activities in an organization. b. Reduce or eliminate non-value-added activities incurred to make a product or to provide a service. c. Institute responsibility accounting systems in decentralized organizations. d. All of the above.
Under the UPA, neither a partner who causes dissolution by wrongfully withdrawing nor a partner expelled pursuant to the partnership agreement can force liquidation of the partnership
a. True b. False Indicate whether the statement is true or false