Asked by Megan Chung on Jun 13, 2024
Verified
Which of the following statements holds true for a patent?
A) A patent application cannot be accessed by the general public.
B) A patent expires at the end of a 20-year period.
C) A patent is subject to "first-to-invent" patent process,rather than the "first-to-file" process.
D) A patent is a process used in a business and disclosed only to those employees who need to know it to do their jobs.
Patent Application
A formal request submitted to a patent office for the grant of a patent for the new and useful invention it describes.
20-Year Period
A term generally used to describe a fixed duration of twenty years, which can be relevant in various contexts, such as financial investments, statutes of limitations, and property rights.
- Recognize the importance of intellectual property rights, including patents and trademarks, and their impact on business practices and innovation.
Verified Answer
MV
Maxine VincentJun 20, 2024
Final Answer :
B
Explanation :
A patent grants exclusive rights to an inventor for a limited period of time which is usually 20 years from the date of filing. Option A is incorrect because patent applications are eventually published and made available to the public. Option C is incorrect because the United States has now adopted a "first-inventor-to-file" system. Option D is incorrect as it describes a Trade Secret, not a patent.
Learning Objectives
- Recognize the importance of intellectual property rights, including patents and trademarks, and their impact on business practices and innovation.