Final answer:
U.S. patent laws grant inventors exclusive rights for 20 years from the patent application filing date. This period aims to provide inventors the chance to earn returns while preventing a perpetual monopoly on the invention.
Step-by-step explanation:
The correct statement regarding revised U.S. patent laws is:
- Patents are valid for 20 years after the filing date of the application.
By patenting an invention, the inventor receives exclusive rights to manufacture, use, or sell the invention for a limited time. The 20-year patent period is designed to balance allowing the inventor to earn a return on their invention without permitting a perpetual monopoly. This term begins on the filing date of the patent application, not when the patent is granted. It's important to note that patents do not remain valid as long as the product is manufactured; they have a finite duration to encourage continued innovation and to eventually allow the public to freely use the invention.