To Obtain a Patent or to Determine If a Patent

question 23

True/False

To obtain a patent or to determine if a patent exists in an area a company seeks to exploit,a search by the U.S.Patent Office is required;these can last longer than 25 months.

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Definitions:

Shortage

A situation in which the demand for a product or service exceeds the supply available at a specific price.

Bushels

A measure of volume used primarily for agricultural commodities, varying in size depending on the product measured.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to sell, holding other factors constant.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, typically downward sloping.