A ________ Is Owned by Shareholders Who Elect a Board

question 4

Multiple Choice

A ________ is owned by shareholders who elect a board of directors to manage the business.

• A)limited liability company
• B)corporation
• C)partnership
• D)sole proprietorship

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Definitions:

Infringement

Unauthorized use or violation of someone else's rights or agreement.

Patent Act

Legislation governing the rights of inventors to protect their inventions through the grant of patents, detailing the process of obtaining and enforcing patent rights.

Design Patent

A legal protection granted to the ornamental design of a functional item for a period of 15 years in the United States.

Nonobviousness

A criteria in patent law requiring an invention to be sufficiently inventive or not obvious to someone skilled in the field to be patentable.