Question

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.

Answer 1

Explanation:

1. patent is a certification of ownership given to an inventor for his or hers product/methade/service by a competent authority (govt authorities)
2. It's give the entrepreneur ability to sell the product or service for monetary benefits
3. Money or valued items of its kind
4. The court of law provide the patent holder chance to sue the respective firm and ask for remuneration