Identify the correct statement with regards to the term ‘Patent’. a) It is the amount of resources available for use. b) It is the application of latest knowledge in making things. c) It means the exclusive right over any idea or invention. d) It means the number and abilities of the people.
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Patent
Explanation:
- A patent is an exclusive right provided for an invention, in which it can be a commodity or process or service which has, in general, a brand new way of doing something, or offers a replacement technical solution to a controversy. to induce a patent, technical information about the invention must be disclosed to the general public in a very application.
- In principle, the patent owner has the perquisite to forestall or stop others from commercially exploiting the patented invention. In other words, patent protection implies that the invention can not be commercially made, used, distributed, imported or sold by others without the patent owner's consent.
- Patents are territorial rights. In general, the exclusive rights are only applicable within the country or region within which a patent has been filed and granted, in accordance with the law of that country or region.
Therefore, patent means the exclusive right over any idea or invention.
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Answer:2
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