There Are Three Basic Requirements for a Patent to Be

question 49

Multiple Choice

There are three basic requirements for a patent to be granted. The subject of the patent application must be ________.

• A) useful, difficult to copy, and novel in relation to prior arts in the field
• B) based on cutting edge science or technology, not obvious to a person of ordinary skill in the field, and rare
• C) useful, novel in relation to prior arts in the field, and not obvious to a person of ordinary skill in the field
• D) rare, difficult to copy, and not obvious to a person of ordinary skill in the field
• E) useful, scientific, and novel in relation to prior arts in the field

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Definitions:

Capital Structure

The particular combination of debt and equity used by a firm to finance its overall operations and growth.

Break Even

The point at which total costs and total revenue are equal, meaning there is no net loss or gain.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance.

Variable Cost

Variable cost refers to expenses that change in proportion to the activity or volume of production or sales in a business.