OKValve Company Applies for a Patent for a Valve

question 8

Multiple Choice

O.K.Valve Company applies for a patent for a valve.Meanwhile,O.K.licenses its products,including the valve,to Petro Pumps,Inc. ,which uses the valve to make oil pumps.Under the terms of the license,Petro agrees to pay royalties on O.K.'s "patented" products.When a patent is granted on the valve,O.K.asks Petro to pay royalties on the sales of its pumps.Petro wants to challenge the validity of O.K.'s patent.According to the majority in MedImmune,Inc. ,v.Genentech,Inc.case,a patent licensee can challenge the validity of a licensed patent

• A)only after breaching the license agreement.
• B)only before breaching the license agreement.
• C)without breaching the license agreement.
• D)under no circumstances.

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Definitions:

Negotiation

The process of discussing and arriving at a mutual agreement between parties with differing interests.

Commitment

A pledge or assurance to do something in the future, often within the context of personal or business relationships.

Canned Sales Presentations

Pre-designed sales pitches, often scripted, that are used repetitively across different sales situations, allowing little room for customization or adaptation to specific client needs.

Office Equipment

Tools and machinery used in an office for tasks such as computing, printing, and document storage, facilitating the smooth operation of business activities.