Patents Are Currently Granted for a Period of 20 Years

question 47

Essay

Patents are currently granted for a period of 20 years in the Canada. Do you think that time period is too long or too short? Explain your reasoning.

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Definitions:

360-Day Year

A financial convention or simplification to treat all months as 30 days in duration for the ease of interest calculations and financial analysis.

Commission

A fee or percentage of a sale paid to an employee or agent for facilitating or completing a sale.

Semiannually

Happening semiannually; every six months.

360-Day Year

An accounting concept that simplifies interest calculations by using thirty-day months across a full year.