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Assets Side of Balance Sheet

As per Patent...

Question

As per Patents Amendment Act, 2002, term of a patent right is limited to ______.

A

20 years from the date of filing

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B

16 years from the date of filing

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C

10 years from the date of filing

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D

5 years from the date of filing

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Solution

The correct option is A 20 years from the date of filing
As per Patents Amendment Act, 2002, term of a patent right is limited to 20 years from the date of filing. Patent is also known as copyright or license. The Patent Amendment Act provided for filing applications for product patent.

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