Distraught After Having Lost His Cat,Jimmy Corpini Drew Up Some

question 9

Multiple Choice

Distraught after having lost his cat,Jimmy Corpini drew up some designs for the "Kitty Caller Collar." The collar was designed so that when its wearer strays beyond certain limits,a signal is sent to a receiver,which pinpoints the location of the collar.In anticipation that one day he would get another cat,Jimmy printed off a copy of his design and emailed a copy to himself.A year later,Jimmy moved,and Takashi moved into his home.While cleaning the house,he came across the design.An engineer by trade,and cat lover by nature,Takashi copied the designs and took them to the Patent Office,where he applied for a patent on the collar,which he renamed the "CatchMeow." In due course,the patent was granted.Six months later,on the advice of an entrepreneur friend,Jimmy produced 100 Kitty Caller Collars,and began selling them at pet shows.He was unaware that Takashi had patented his invention.The collars sold quite well,and Jimmy became something of a local star in the community newspapers.Soon thereafter,Jimmy received a letter from a stern lawyer informing him that he had to stop selling his Kitty Caller Collars,because by so doing he was infringing the patent for the CatchMeow.Which of the following is the most accurate assessment?

• A)Jimmy is not liable for patent infringement since he is the true inventor.
• B)Jimmy is not liable for patent infringement because his email sufficiently protects his patent.
• C)Jimmy is not liable for patent infringement so long as he can prove that he independently came up with the design for the kitty collar.
• D)Jimmy is liable for patent infringement but will be able to benefit from an exemption,given that he is the true inventor.
• E)Jimmy is liable for patent infringement because Takashi owns the patent.

---

Definitions:

Annual Coupon

The annual interest payment received by bondholders, expressed as a percentage of the bond's face value.

Par Value

The face value of a bond or stock, as designated by the issuing company, which may not reflect the market value.

Premium

An amount paid for an insurance policy, or the cost above the nominal or face value of a financial instrument.

Par Value

The nominal or face value of a bond, stock, or coupon as stated by the issuer, which is the value written on the face of the security.