The Government Allows Inventors to Apply for a Temporary Government

question 48

Multiple Choice

The government allows inventors to apply for a temporary government monopoly on their invention.The government will prevent others from making or selling the invention for a period of years to encourage innovation.What is this temporary monopoly called?

• A) A trademark.
• B) A patent.
• C) An investment tax credit.
• D) Moore's law.

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Definitions:

Personal Property

Any movable property that is not attached to or associated with the land. This includes physical objects such as furniture and vehicles, as well as intangible rights.

Limited Partners

Investors in a partnership who have limited liability to the extent of their investment and do not participate in day-to-day management.

LLLPs

Limited Liability Limited Partnerships, a form of partnership that provides limited liability to all its partners, not just the general ones.

Limited Partner

A limited partner is an investor in a partnership who is not involved in the day-to-day management and whose liability is limited to the amount invested in the business.