A Grant from the Government Conveying to and Securing for an Inventor

question 360

Multiple Choice

A grant from the government conveying to and securing for an inventor the exclusive right to make, use, and sell an invention is a:

• A) copyright
• B) goodwill
• C) trademark
• D) trade secret
• E) none of the other choices

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Definitions:

Economic Life

The expected period during which an asset remains useful to the owner or within an economy.

Patent Rights

Legal entitlements granted to inventors, giving them exclusive rights to use, make, and sell their inventions for a certain period.

Depletion Expense

The systematic allocation of the cost of natural resources over their expected productive life.

Drilling Rights

Legal permissions granted to an individual or company to explore and extract resources from the land.