Which of the following is NOT a characteristic of patents?

Disable ads (and more) with a membership for a one time $4.99 payment

Prepare for the UCF GEB3375 Intro to International Business Exam 2. Enhance your skills with multiple-choice questions, detailed explanations, and strategic tips. Boost your confidence and excel on your exam day!

In the context of patents, the assertion that "they last forever" is inaccurate. Patents are designed to provide exclusive rights to inventors for a limited time in exchange for public disclosure of the invention. Generally, utility patents in the United States last for 20 years from the filing date, while design patents last for 15 years. This limited duration is a fundamental characteristic of patents, intended to encourage innovation while also eventually allowing public access to the underlying knowledge.

The other characteristics mentioned highlight key aspects of patents. A patent must indeed be of practical use, meaning the invention should have utility. Additionally, patents serve to protect an invention by giving the inventor exclusive rights to use, sell, or license the invention, thus incentivizing creativity and investment in research and development. These characteristics collectively define the nature and purpose of patents within the framework of intellectual property rights.