Phil Invents New Web Site Design Software and Applies for a Patent.If

question 53

Multiple Choice

Phil invents new Web site design software and applies for a patent.If Phil is granted a patent,his invention will be protected

• A)for ten years.
• B)for twenty years.
• C)for the life of the inventor plus seventy years.
• D)forever.

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Definitions:

Interest Due

The amount of interest that has accumulated on borrowed funds or investments that is payable to the lender or investor.

Dishonoured Note

A promissory note that has not been paid by the maker or acceptor when due, leading to a default.

Maturity Date

The specified date on a financial instrument when the principal amount must be repaid or when an investment reaches its full value and can be redeemed.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer named on the document.