A Patent Is an Example of

question 96

Multiple Choice

A patent is an example of

• A)a subsidy.
• B)a marketable permit.
• C)a voucher.
• D)a tax.
• E)a legal device for creating property rights.

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Definitions:

Material Facts

Information that could influence the decision-making process of a person or entity, considered significant in the context of legal and financial transactions.

Apparent Authority

A legal doctrine allowing a third party to rely on the representation of an agent that they have the authority to act on behalf of a principal, even if the agent lacks actual authority.

Actual Authority

The explicit power granted by a principal to an agent to conduct specific transactions or activities on the principal's behalf.

Price Fixing

An illegal agreement among competitors to set, raise, or stabilize prices or competitive terms.