Why Do Some Firms Choose Not to File for a Patent

question 32

Multiple Choice

Why do some firms choose not to file for a patent and instead try to keep the results of their research a trade secret?

• A)because firms must disclose information about the product or process being patented in a patent application
• B)because trade secrets are never divulged
• C)because a patent only gives the inventor exclusive rights to a product or process for 5 years
• D)because trade secrets provide the same exclusive legal rights to a product as a patent does

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Definitions:

Ownership Interests

The legal rights and claims an individual or entity has over a property or business.

Partition

The division of real property among co-owners so that each owns a specific portion of the property, or the sale of such property and division of proceeds among co-owners.

Voluntary Act

An action undertaken by an individual with full awareness and of free will, without coercion.

Joint Tenant

A co-owner of a property where each tenant has an equal share and rights, with the stipulation that upon the death of one tenant, their share automatically transfers to the surviving joint tenant(s).