In Essence, Patents Grant Their Owners

question 146

Multiple Choice

In essence, patents grant their owners

• A) a property right to new products and production processes that they have developed.
• B) the exclusive right to use a newly developed process or product forever.
• C) the right to use resources owned by their competitors.
• D) an exemption from laws that prohibit price discrimination.

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Definitions:

People Management

The practice of recruiting, training, and overseeing employees in a workplace to maximize their performance.

Services

Intangible products provided to consumers, such as repairs, entertainment, or consultation, which do not result in ownership of anything physical.

Customer Experience Management

The method of creating and responding to interactions with customers in a way that fulfills or surpasses their expectations, aiming to boost satisfaction, loyalty, and support among them.

Internal Marketing

The promotion of a company’s objectives, products, and services to its employees, aiming to align customer and employee satisfaction.