If an Invention Was Patented or Described in a Printed

question 98

Multiple Choice

If an invention was patented or described in a printed publication in this or a foreign country or in public use of no sale in the country more than one year prior to the application for patent in the United States then:

• A) the invention can only be patented for 10 years
• B) the invention can only be patented for 5 years
• C) the invention cannot be patented without a 5 year grace period
• D) the invention can only be patented in some states
• E) none of the other choices are correct

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Definitions:

Cash Dividend Liability

An obligation for a corporation to pay shareholders a declared dividend in cash.

Date of Record

The specific date set by a corporation upon which the company determines the shareholders eligible to receive a dividend or distribution.

Income Tax Expense

The cost of income taxes a company must pay, reported in the income statement as part of its expenses.

Dividends

Funds disbursed by a company to its shareholders, frequently as an allocation of earnings.