Aleem Properly Filed for a Patent on a New Machine

question 78

Multiple Choice

Aleem properly filed for a patent on a new machine with the U.S.Patent and Trademark Office.Erin,who had been working on the same type of machine was furious when she learned about Aleem's filing.She presented proof that she had actually invented the machine first but had not yet prepared the paperwork for filing at the time of Aleem's filing.Assuming no wrongdoing on the part of either party and that they developed the machine independently,which of the following is the correct resolution of the dispute?

• A)Under the America Invents Act,Erin will control rights to the patent because she was the first to invent.
• B)Aleem will win and possess all rights to the patent under common law because he was the first to file for a patent.
• C)Under common law,Erin and Aleem will share rights to the patent on a 50-50 basis.
• D)Erin will win and possess all rights to the patent under common law because she first invented the machine.
• E)Under the America Invents Act,Aleem will control rights to the patent because he was the first to file.

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Definitions:

Uncollectibles

Financial term referring to debts or receivables that are deemed unlikely to be collected and thus written off.

Partial Balance Sheet

A snapshot of a portion of a company's financial position at a specific point in time, focusing on certain assets, liabilities, or equity sections rather than the complete picture.

Aging Process

A method used in accounting to categorize accounts receivable according to the length of time an invoice has been outstanding.

Accounts Receivable

Funds that are expected to be received by a company from its customers who have purchased goods or services on credit, essentially representing a line of credit extended by the business and recorded as an asset.