All categories

2 years ago

How do patents encourage technological progress

1 answer:

7 0

Patents are used to balance the right of the individual with the concept of the public good. In general, the purpose of a patent is two-fold: to allow the inventor of some new thing to retain exclusive rights as to its use for a limited period of time, and after that time to ensure that the details of the invention are available for public use.
By granting the patent-holder exclusive rights to their invention, use and duplication of the invention is at the sole discretion of the inventor, potentially allowing them to profit from it. However, after a period of time those exclusive rights cease to apply, and the new invention becomes available to the public. This contributes to the public good by increasing the amount of general knowledge available.

You might be interested in

On january 2, fafnir co. purchased a franchise with a finite useful life of 10 years for $50,000. an additional franchise fee of

skelet666 [1.2K]

The amount should Fafnir report as intangible asset - franchise is -

Purchase value of Franchise = $ 50,000

Life of Franchise = 10 years

Salvage value = $ 0 ( not given)

Since, no other methods of amortization are specifically mentioned, straight line method will be used.

Book value of Franchise = Purchase price - Amortization expenses

Book value of Franchise = $ 50,000 - [ ( $ 50,000 - $ 0) / 10 Years ]

Straight-line depreciation = ( Purchase price - Salvage value) / Number of years

Book value of Franchise = $ 50,000 - $ 5,000 = $ 45,000

The amount should Fafnir report as intangible asset - franchise is = $ 45,000

7 0

3 years ago

Which of these is the concept that a unit's sales will follow an approximate bell-shaped curve versus a steady sales life?

zhannawk [14.2K]

Answer: Product Life cycle

Explanation: Product Life cycle is a concept used to describe the various stages which a product will have to undergo from the time of introduction into the market till the time it will eventually be out of the market. Different products have different life cycle,the life cycle is determined by different factors. The shape of a product's life cycle is that of a BELL SHAPE

The stages include Introductory stage, Growth stage, Stabilization stage and decline stage.

8 0

2 years ago

Costs that change directly with the level of production are referred to as ________ costs

Elodia [21]

The answer to this question is Variable cost.
As the level of production increase , the total variable cost is increased and vice versa.
Examples of variable cost are the cost of sugar in condensed milk factory, the cost of leather in bag manufacturing, the cost of coffee beans in starbucks, etc.

6 0

3 years ago

Sara was faced with a decision to complete a skill herself or delegate to a staff member. Watch both examples and think about yo

wariber [46]

Answer:

Complete a skill herself.

7 0

1 year ago

On January 1, 2017, Doone Corporation acquired 70 percent of the outstanding voting stock of Rockne Company for $672,000 conside

bogdanovich [222]

Answer:

Question a:

The non-controlling interest of Rockne´s 2018 net income is $111,000.- calculated by taking 30% of Rockne´s net income of $370,000.-

Question B:

There are 3 entries required to eliminate te sale of goods form rochne to doone.

The first entry eliminates the sales recorded by rockne against te inventory or cost of goods sold by recorded by doone. To consider, the 60% of the purchases went trhough cost of good sol d and 40% of the purchases remain in inventory until the following year. Here is the engru:

Debit/sales/$530

Credit/COGS/ ($318) 60%

Credit inventory ($212) 40%

The next entry has to do with the amount of inventory that remained from the last intercompany transaction. This is caclulated usin 40% of 2017 sales, which were $430. So:

Debit inventory $172

Credit Cogs ($172)

The last part is to eliminate the recievable on the book of rockne when they made te sale

Debit Payable $530

Credit receivable ($530)

6 0

2 years ago