A Patent Is

question 7

Multiple Choice

A patent is:

• A)an intellectual property right granted to an inventor,giving him or her exclusive rights to make,use or sell an invention for a limited time,usually 20 years
• B)an intellectual property right granted to a franchisee to make copies of an innovation
• C)an intellectual property right granted to the government to make sure all patents are held in government hands
• D)intellectual property rights granted to all people in a country

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Definitions:

Compounded Annually

An interest calculation method where interest is added to the principal once a year, affecting the calculation of future interest.

Compounded Monthly

An interest calculation method where interest is added to the principal balance monthly, causing the total amount of interest to grow at an increasing rate.

Compounded Annually

The method of calculating interest where the total interest is added to the principal once per year, resulting in interest earning interest annually.

Perpetuity

A type of annuity that pays a fixed sum of money to an individual indefinitely.