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

question 42

Multiple Choice

In a common-law country, ownership of intellectual property rights is established by "prior use versus registration" which implies that to claim the ownership of a trademark, an individual:

• A) must be ratified by the United Nations trademark protection agency.
• B) must pay for the right to own a trademark.
• C) must establish first use of a trademark.
• D) must prove the ownership of a trademark in a court of law.
• E) must register a trademark only in his home country.

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Definitions:

Variable Costing

A method of inventory costing that includes only variable production costs—direct materials, direct labor, and variable manufacturing overhead—in product costs, excluding fixed manufacturing overhead.

Per Unit

A term that refers to expressing costs, revenues, or any other financial metric on a per unit of production or per unit of sale basis.

Fixed Manufacturing Overhead

These are production costs that do not change with the level of manufacturing activity, such as rent for factory premises.

Inventories

Assets held for sale in the ordinary course of business, or materials to be used or consumed in the production process.