<u>aThe legal protection for Abc Medical Corporation is registering the medication as a patent.
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Further Explanation:
Patent:
A patent is an intangible asset of the business. It refers to an intellectual property that provides an exclusive right to the user to use the user for a definite period. The user of the patent has the right to produce and sell a specific product using the patent for a limited period of time. The inventor of the intellectual property has to register the patent under the country-specific patent law, and as per the condition of the registration, the user can use the patent for the future period. There are three types of patent:
1. Utility patents
2. Design patents
3. Plant patents
Legal protection for Abc Medical Corporation:
Abc Medical Corporation has developed a new medication for the treatment of a rare disease. The corporation can protect the formula for the medication by registering the patent under the patent law. It can submit an application and pay a specific fee for the registration of the patent. It would provide Abc Medical Corporation an exclusive right to use the medication for the production and sale of a new product that would treat a rare disease.
Thus, the legal protection for Abc Medical Corporation is registering the medication as a patent.
Learn More:
- Learn more about the patent and trademark
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- Learn more about the business organization brainly.com/question/1378949
Answer Details:
Grade: Middle school
Chapter: Intangible assets
Subject: Business studies
Keywords: Abc, medical, corporation, developed, new, medication, treat, rare, disease, type, legal, protection, grants,ABC, medical, corporation, exclusive, rights, defined, period, manufacture, sale, new medication.
