Which of the following is an incorrect statement regarding a patent?
A) Once a patent is issued, it gives its holder the exclusive right to produce, sell, and use the object of the patent in perpetuity.
B) The holder of a patent may license, or allow others to manufacture and sell, the patented object.
C) In most cases, patents are licensed in exchange for the payment of royalties, a sum of money paid for each use of the patented process.
D) The only restriction on the patent holder is that he or she may not use the patent for an illegal purpose.

Question

Quizplus · Accepted Answer

A patent gives its holder the exclusive right to produce, sell, and use the object of the patent for a limited period of time, usually 20 years from the date of filing. After that period, the invention enters the public domain and can be used by anyone. Therefore, the statement in option A that the holder can use the patent in perpetuity is incorrect.

Which of the Following Is an Incorrect Statement Regarding a Patent