A Patent Applicant Must Demonstrate That an Invention,discovery,or Design Is

question 45

True/False

A patent applicant must demonstrate that an invention,discovery,or design is novel,useful and not obvious in light of current technology to receive a patent.

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Definitions:

Wage

The payment to labor for its contribution to the production process, typically calculated on an hourly, daily, or piecework basis.

Marginal Expenditure

Additional cost of buying one more unit of a good.

Factor of Production

Resource inputs used in the production of goods and services, typically categorized into land, labor, capital, and sometimes entrepreneurship.

Marginal Revenue Product

The additional revenue generated from using an additional unit of a resource or input.