How Did Changing the Term of a Patent from 17

question 25

Essay

How did changing the term of a patent from 17 years from the date of grant to 20 years from the date of filing an application motivate applicants?

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Definitions:

Straight-line Rate

A method of calculating depreciation by evenly allocating the cost of an asset over its useful life.

Double Declining-balance

An accelerated method of depreciation where the book value of an asset is reduced at double the rate of its straight-line depreciation.

Net Income

The amount of profit remaining after all expenses, taxes, and costs have been subtracted from total revenues.