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If a company respects a patent what is it following?

Answer and explanation

Correct answer: Intellectual property rights

The governing concept is intellectual property within the legal environment. A patent is a legally granted exclusive right over a new invention for a specified period, subject to the applicable law. Respecting a patent means that a company does not copy, manufacture, use or sell the protected invention without permission when such permission is legally required. Option A is correct because patents are one form of intellectual property rights, along with rights such as trademarks and copyrights. Customer fashion, weather rules and music tradition do not explain the legal protection given to inventions or the duty to respect that protection.

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Business-EnvironmentLegal-EnvironmentIntellectual-PropertyClass-12Legal EnvironmentBusiness EnvironmentBusiness StudiesClass 12 Mcq

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