Patents Provide Inventors the Right to Prevent Another Person or Company

question 44

True/False

Patents provide inventors the right to prevent another person or company from selling or using an invention for up to twenty years.

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Definitions:

Long-Term Liabilities

Obligations of a company that are due more than one year in the future, including bonds payable, long-term leases, and pension obligations.

Current Liabilities

Obligations or debts that a company is required to settle within one fiscal year or within its operating cycle.

Social Security

A government program that provides financial assistance to people with inadequate or no income, primarily the elderly, disabled, and survivors of deceased workers.

Medicare

A federal health insurance program in the United States for people aged 65 and older, and for some younger people with disabilities.