How Is a Copyright Different from a Patent

question 5

Multiple Choice

How is a copyright different from a patent?

• A) Patents fall under the federal law, while copyrights fall under state law.
• B) Copyrights should be novel, and useful, while patents need not be so.
• C) Copyrights are applied for inventions, while a patent is applied for tangible writings.
• D) Patents have a limited term period, while copyrights carry lifelong terms.

---

Definitions:

Current Liabilities

Financial obligations a company is due to pay within one year or within its operating cycle if longer than a year.

EOQ Model

Economic Order Quantity Model; a formula used to determine the optimal order quantity that minimizes total inventory costs.

Annual Ordering Cost

The total expenses associated with placing orders for goods or inventory over the course of a year.

Cost Of Borrowing

The total charge, including interest and any other fees, for obtaining funds from a lender.