Sales of Copyrights and Patents Are Governed By

question 32

Multiple Choice

Sales of copyrights and patents are governed by:

• A) the UCC.
• B) common law.
• C) federal statute.
• D) real estate law.

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Definitions:

Wholesalers

Businesses that buy goods in bulk from manufacturers or distributors and then sell them in smaller quantities to retailers or other businesses.

Retailers

Businesses that sell goods or services directly to consumers.

FOB Shipping Point

A term used in shipping indicating that the buyer assumes ownership and the risk of loss of goods once the seller ships the product.

FOB Destination

A shipping term indicating that the seller is responsible for the goods and the shipping cost until the items reach the buyer's specified location.