Which of the Following Is a Benefit of Using Patents

question 13

Multiple Choice

Which of the following is a benefit of using patents in organizations?

• A)Organizations can use patents for an upgraded version of a pre-existing patented process.
• B)Organizations can use patents for contents derived from other processes.
• C)Organizations can use patents to keep competitors from entering certain market segments.
• D)Organizations do not have a fixed period to patent a concept.

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Definitions:

Labor Rate Variance

The financial difference between the actual cost of labor and the budgeted (or standard) cost of labor, influenced by the wage rates paid and the amount of labor hours used.

Labor Standards

Benchmarks or norms established for the amount of labor required to perform a task efficiently, often used to set production targets and labor budgets.

Particular Product

A specific item or good offered for sale by a business.

Labor Rate Variance

The difference between the actual cost of labor and the expected (or budgeted) cost of labor based on standard rates and hours.