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:

Level of Operations

The scale or magnitude at which a company or factory is producing goods or services.

Financial Capital Maintenance

An accounting concept that income is only recognized after the amount of the investor's capital has been maintained, or the financial position is at least as good at the end of the period as at the beginning.

Net Assets

The total assets of an entity minus its total liabilities, indicating the entity’s net worth or equity.

Common Stock

Equity securities that represent ownership interests in a corporation, providing voting rights and entitling the holder to a share of the company's success through dividends and/or capital appreciation.