BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Patent protection is granted for a limited period, generally 20 years from the filing date of the application.

Detailed explanation-2: -Patents are good for ten years and are renewable. Any kind of property may be acquired and transferred by contract. Property intentionally places somewhere but then forgotten is referred to as mislaid property. Occupancy is a means of acquiring abandoned property.

Detailed explanation-3: -Under the U.S. Constitution, patent law is federal law. Trademarks are protected for a nonrenewable 10-year period. The United States still follows the first-to-file rule, which means the first person to file an item or process is given protection over another who was the first to invent an item or process.

Detailed explanation-4: -Why are patent lengths often limited to a fixed number of years? Because long-term patents would discourage future inventions.

Detailed explanation-5: -Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.