1. In your own words, what is a patent?
2. Of what value is a patent to an entrepreneur?
3. What benefits does it provide?
4. 4. If a patent is infringed upon by a competitor, what action can the patent holder take? Explain in detail.
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Explanation:
- patent is a certification of ownership given to an inventor for his or hers product/methade/service by a competent authority (govt authorities)
- It's give the entrepreneur ability to sell the product or service for monetary benefits
- Money or valued items of its kind
- The court of law provide the patent holder chance to sue the respective firm and ask for remuneration
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