A _____ Consists of a Formula, Device, Idea, Process, Pattern

question 20

Multiple Choice

A _____ consists of a formula, device, idea, process, pattern, or compilation of information that gives the owner a competitive advantage in the marketplace, is novel in the sense that it is not common knowledge, and is kept in a reasonably confidential state.

• A) copyright
• B) patent
• C) trade secret
• D) property right
• E) trademark

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Definitions:

Base Year

A specific year chosen as a reference point for financial or economic data comparison over time.

Inflation

The speed at which prices for goods and services generally ascend, wearing away the power to purchase.

Base Year

A specific year against which economic growth is measured, serving as a standard or benchmark.

Nominal GDP

The market value of all final goods and services produced within a country in a year, measured using current prices.