Which of the Following Is Not True About Patent Law

question 58

Multiple Choice

Which of the following is not true about patent law after the changes adopted in 1995 relating to the requirements of the General Agreement on Tariffs and Trade?

• A) The legal life of a patent in the United States was extended to 20 years.
• B) The requirement of nonobviousness was eliminated.
• C) The United States continues to follow the first to invent rule rather than the first to file rule followed in most other nations.
• D) In the U.S.,the period of legal protection begins to run upon the filing of the application.

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Definitions:

Current Assets

Short-term assets that are expected to be converted into cash, sold, or consumed within one year or within the business's operating cycle, whichever is longer.

Operating Cycle

The average period of time between the purchase of goods or services and the receipt of cash from sales, typical in the context of a company's day-to-day operations.

APB Opinion No.22

A guideline issued by the Accounting Principles Board that requires companies to disclose their accounting policies in their financial statements.