How Can Patent Files Help a Potential Business Owner Come

question 43

Essay

How can patent files help a potential business owner come up with ideas for new businesses?

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Definitions:

Materials Price Variance

The difference between the actual cost of materials and the standard cost, multiplied by the quantity purchased.

Ounces

A unit of weight commonly used in the United States and the United Kingdom, equal to one-sixteenth of a pound.

Labor

The human effort, both physical and intellectual, used in the creation of goods and services.

Labor Rate Variance

The difference between the actual labor costs and the standard labor costs expected for the actual production achieved.