ECONOMICS
PROPERTY RIGHTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Yes
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No
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Either A or B
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None of the above
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Detailed explanation-1: -This feature, of course, exists in virtually all safety pins the world is accustomed to using today. At the time, however, Hunt apparently thought little of his invention. He patented the safety pin on April 10, 1849 (U.S. Patent No. 6, 281), and he willingly sold rights to it for just $400.
Detailed explanation-2: -Patentable inventions must be technological in nature, and they must solve a technical problem. The subject matter may be a process, method, device, product, or a new way to use existing ones. Consequently, an idea or a theory alone cannot be patented.
Detailed explanation-3: -The patent requirements are: Requirement #1 (Utility): The invention must be useful. Requirement #2 (Eligibility): The invention is eligible for a patent if the invention is a machine, process, manufacture or composition of matter. Exception #1: Abstract ideas are not patentable.
Detailed explanation-4: -a discovery, scientific theory or mathematical method, an aesthetic creation, a scheme, rule or method for performing a mental act, playing a game or doing business, or a computer program, a presentation of information, More items •04-Jan-2023