Homer Ford Invented a Unique Pollution-Free Engine That Runs on Gas

question 129

Multiple Choice

Homer Ford invented a unique pollution-free engine that runs on gas created by chicken "droppings" and old leaves.This fuel also caused no wear on the engine of the car.Homer built a prototype in a workshop in his backyard.Before he seeks publicity,he would like to protect his invention and any business that emerges from the development and sale of his cars.In this regard,which of the following is false?

• A)Surnames cannot be registered as trademarks unless the name has already been associated with the product or business.
• B)If Homer is granted a patent,he will be giving up any trade secret protection he might have had to protect his ideas.
• C)If anyone steals his ideas,Homer could also sue in tort for injurious falsehood.
• D)If Homer can succeed in getting a patent on his novel engine,he would have a government-granted monopoly to produce,sell,or otherwise profit from his invention.
• E)If Homer obtains a patent,the protection will be for a period of 20 years.

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Definitions:

Import Substitution

A development strategy that emphasizes domestic manufacturing of products that were imported.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.

National Security

National security involves the safety and defense of a nation, including its citizens, economy, and institutions, protected against threats ranging from terrorism to foreign invasions.

Infant Industries

Newly established industries often with limited capabilities compared to established competitors, and potentially protected by a government until they become competitive.