Which of the Following Statements Is True of the Patent

question 17

Multiple Choice

Which of the following statements is true of the patent period in the United States?

• A)It follows the first-to-file rule.
• B)The patent term begins to run from the date the patent application is filed.
• C)The patent term begins to run from the date the patent is issued.
• D)The patent period for an invention is 17 years.

---

Definitions:

Total Utility

The overall satisfaction or fulfillment a consumer derives from consuming a particular quantity of goods or services.

Marginal Utility

The extra pleasure or benefit gained from consuming an additional unit of a product or service.

Total Utility

The total satisfaction received from consuming a certain amount of a good or service.

Diamond/Water Paradox

A paradox highlighting the contradiction where water, essential for survival, is inexpensive, while diamonds, with little intrinsic utility, are expensive.