Question

The opening feature focuses on 3Derm Systems, a company that makes a device that takes 3D images of the human skin. The central form of intellectual property that 3Derm is hoping to benefit from is a(n) ________.

a) license
b) Internet domain name
c) trademark
d) patent
e) copyright

Answer 1

3Derm Systems is hoping to benefit from a patent, which is an exclusive right that protects their invention and allows them to earn monopoly profits for a set period of time, incentivizing further innovation.

Step-by-step explanation:

The central form of intellectual property that 3Derm is hoping to benefit from is a(n) patent. A patent is a government-granted exclusive right that allows the inventor to make, use, or sell an invention for a limited time period, typically for 20 years from the filing date of the patent application.

This form of intellectual property protection is essential for companies like 3Derm that develop unique and innovative devices, as it permits them to potentially earn monopoly profits by excluding others from making or selling their invention. This exclusive right acts as an incentive for further research and development. Without such protection, competitors could replicate their device, leading to increased competition and potentially lower profits for the innovating company.