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:

Work in Process

Goods in various stages of production within a factory, not yet completed but also not raw materials.

Fixed Manufacturing Overhead

The costs associated with production that do not change with the level of output, such as depreciation of equipment and salary of the factory manager.

Direct Labor

The labor cost directly associated with the production of goods, including wages of workers who are directly involved in creating the product.

Cash Account

An account that records cash transactions both received and expended, reflecting the cash position of a business at any given time.