A Patent Grants an Inventor Exclusive Rights to a Product

question 253

Multiple Choice

A patent grants an inventor exclusive rights to a product for how long?

• A)14 years
• B)17 years
• C)20 years
• D)the lifetime of the product

---

Definitions:

Current Assets

Current Assets are assets that are expected to be converted into cash, sold, or consumed within one year or within a company’s operating cycle if longer than a year.

Accounts Receivable Turnover

A financial ratio indicating how many times a company's accounts receivable are collected during a specific period.

Net Sales

The amount of sales generated by a company after deducting returns, allowances for damaged or missing goods, and any discounts allowed.

Accounts Receivable

The money owed to a company by its customers for goods or services delivered or used but not yet paid for.