Which of the Following Is True in Case a Patent

question 93

Multiple Choice

Which of the following is true in case a patent expires?

• A) It comes under the purview of the Supreme Court to restrict its use in public.
• B) It is in the public domain and others may use it without limitations.
• C) It is put aside for someone else to acquire.
• D) It will be reviewed and reassigned to the same owner.
• E) It will be declared as null and void and the invention will be declared useless.

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Definitions:

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a basis for computing rates of return and evaluating its capital structure.

Sales On Account

Transactions where goods or services are sold with payment to be received at a later date, often documented through invoices.

Cost Of Goods Sold

Direct expenditures linked to the making of products that a company offers for sale.

Average Collection Period

The typical duration in days for a business to collect payments due from its clients.