7. A patent is an example of a rare and valuable resource. Indicate whether the statement is true or false and also justify it.

Answers

Answer 1

Answer:

True.

Explanation:

Patent can be defined as the exclusive or sole right granted to an inventor by a sovereign authority such as a government, which enables him or her to manufacture, use, or sell an invention for a specific period of time.

Generally, patents are used on innovation for products that are manufactured through the application of various technologies.

Basically, the three (3) main ways to protect an intellectual property is to employ the use of trademarks, copyright and patents.

Hence, a patent is an example of a rare and valuable resource because it protects the intellectual property of an individual or business entity and as such serves as a medium for gaining royalties or valuable economic benefits.

Related Questions

To fix a problem you are having with you PC, you have determined that you must flash the computer's BIOS. Which of the following would MOST likely need to be completed prior to flashing the BIOS?

a. Download the flash utility or tool from the manufacturer's website
b. Properly identify the motherboard
c. Locate the flash utility or tool that was shipped with your PC
d. Test the memory to ensure that it is functioning properly

Answers

Answer:

a. Download the flash utility or tool from the manufacturer's website

b. Properly identify the motherboard

Explanation:

In this scenario, you are trying to fix a problem you are having with your PC, you have determined that you must flash the computer's BIOS. The following would most likely need to be completed prior to flashing the BIOS;

a. Download the flash utility or tool from the manufacturer's website

b. Properly identify the motherboard.

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