BUSINESS ADMINISTRATION
MANAGEMENT INFORMATION SYSTEM
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Patents last 50 years and then become part of the public domain.
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true
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false
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Explanation:
Detailed explanation-1: -As part of the terms of granting the patent to the inventor, patents are published into the public domain.
Detailed explanation-2: -The exclusive purpose of the patent system is to benefit the patent holder. The Indian Patent Act, 1970, was amended and made effective from January 1, 2005. The exclusive purpose of the patent system is to benefit the patent holder is not a correct statement regarding the patent.
Detailed explanation-3: -Generally speaking, the term of a U.S. utility patent begins on the date the patent issues and expires on the date that is 20 years from the date that the application was originally filed.
Detailed explanation-4: -Patents usually last for 20 years.
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