17 Questions
What are the three main requirements for an invention to be patentable?
Be new, involve an inventive step, be capable of industrial application
Define the requirement of 'newness' for an invention to be patentable.
The invention must never have been made public before the patent application date.
Explain what 'inventive step' means in the context of patentability.
The invention must not be obvious to someone with good knowledge and experience in the subject.
What is meant by 'industrial application' in the context of patentable inventions?
The invention must be capable of being made or used in some form of industry.
Give an example of what an invention could be, based on the requirements for patentability.
An industrial process or a new material
What is the main purpose of Intellectual Property Rights (IPR)?
To allow the owner to benefit from their product and prevent others from unauthorized use.
How does Intellectual Property differ from tangible assets?
Intellectual property is intangible, while tangible assets are physical.
What can the owner of Intellectual Property Rights do if someone infringes on their rights?
Legally sue for infringement, stop unauthorized use, and seek compensation for damages.
How does the World Trade Organization (WTO) define Intellectual Property Rights?
As rights given to persons over the creations of their minds, granting exclusive use for a certain period.
Why is Intellectual Property considered an asset?
It is a set of intangible assets that can be owned and protected by laws.
What is the significance of Intellectual Property compared to physical assets for a company?
Intellectual property can be more valuable than a company's physical assets.
Intellectual property (IP) is the product of the human intellect including inventions, industrial models, trademarks, songs, literature, symbols, names, brands, etc. Intellectual Property Rights (IPR) are mostly the same as ______ rights.
property
IPR also prevent others from using, dealing or tampering with their product without prior permission from them. In fact, the owner of the IPR can legally sue someone else for ______ and force them to stop and compensate for any damages.
infringement
Intellectual property is a broad category description for the set of intangible assets owned by a company or individual. An intangible asset is a non-physical asset that a company or person owns. Like tangible assets (physical property like buildings, equipment, etc.) it can be protected by laws to stop others from copying, using or accessing without ______.
permission
Although it's an intangible asset, intellectual property can be far more valuable than a company's ______ assets.
physical
Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of ______.
time
Intellectual property is an ______.
asset
Test your knowledge on patents and inventions with this quiz. Learn about the criteria for an invention to be patentable, including being new and involving an inventive step.
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