A ________ Is a Right Granted to the Inventor of a Product

question 10

Multiple Choice

A ________ is a right granted to the inventor of a product or process that excludes others from making,using,or selling the invention.

• A) patent
• B) trademark
• C) watertight
• D) copyright

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Definitions:

Goodwill

An intangible asset that arises when a company acquires another business for more than the fair value of its net assets, representing future economic benefits.

Deferred Income Tax Liability

A financial accounting term representing taxes that are owed but not yet paid, resulting from temporary differences between the IRS and accounting methods.

Income Tax Rate

The fraction of one's earnings or a company's profits that must be paid in taxes.

Net Income

Net earnings of a business post deductions of any costs and taxes from revenue.