In a Common-Law Country, Ownership of Intellectual Property Rights Is

question 23

Multiple Choice

In a common-law country, ownership of intellectual property rights is established by "prior use versus registration." What does the phrase "prior use versus registration" mean?

• A) One must register a trademark to gain rightful ownership of it.
• B) One must pay for the right to own a trademark.
• C) Whoever can establish first use of a trademark is typically considered the rightful owner.
• D) Ownership of a trademark can only be established in a court of law.
• E) Ownership of a trademark is global and is established by the United Nations.

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Definitions:

Capital Account

A national account that shows the changes in asset ownership for a country, including foreign investments.

Dollar Depreciation

A decline in the value of the U.S. dollar relative to other currencies, affecting international trade and investment.

Foreign Assets

Assets owned by residents of a country that are located in foreign countries, including stocks, bonds, real estate, and direct investments.

Rising Interest Rates

The phenomenon where central banks increase the cost of borrowing, which can affect consumer spending, investment, and overall economic growth.