Yung Created a Machine That Was Not Exactly New and Novel

question 34

Multiple Choice

Yung created a machine that was not exactly new and novel in that it was an improvement on an existing patented machine. Which of the following is true?

• A) Yung cannot get a patent for his improvement because it is not entirely new or novel.
• B) Yung could get a patent for his improvement and would thereby get an independent right to make, sell, or use his machine with the original machine incorporated into it.
• C) Yung could get a patent for his improvement, but has no right to make, sell, or use the original machine.
• D) The patent holder of the original machine has the right to make, sell, or use the improvement because his machine is the basis of the improvement.
• E) Both Yung's improvement and the original machine lose their patent protection.

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Definitions:

Accrued Interest

Interest that has accumulated over a period but has not yet been paid or received.

Treasury Note

A type of government bond issued by the U.S. Department of the Treasury with intermediate maturities ranging from 1 to 10 years.

Settlement

The process of transferring ownership of securities from the seller to the buyer and the corresponding payment from the buyer to the seller.

Accrued Interest

Interest that has been incurred but not yet paid, often considered in bond pricing and transactions.