What Is the Duration of the Protection Offered by a Patent

question 20

Multiple Choice

What is the duration of the protection offered by a patent?

• A) Unlimited.
• B) Varies between countries.
• C) Lasts generally 10 years.
• D) Is generally not defined by law.

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Definitions:

Centrally Planned System

An economic system in which decisions about production and distribution are made by a centralized authority rather than by market forces.

Free-Market System

An economic system based on supply and demand with minimal governmental control, where prices are determined by the interactions between consumers and businesses.

Marxist Economy

An economic system based on the socio-economic theories of Karl Marx, focusing on the role of labor in the development of an economy and the concept of class struggle.

Planned Economy

An economic system where the government controls and regulates production, distribution, and prices.