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The research and development division of a company has recently designed a new coffee vending machine that is likely to sell very well in the market. It is compact, user-friendly, and provides unprecedented efficiency in terms of cost per cup. Consequently, the company fears that its competitors would soon mimic the design of its product. To protect its product, the company is now seeking a

Respuesta :

In order to prevent competitors rom mimicing the design of the product, the company is seeking a patent.

What is a patent?

Patents are a right granted to an inventor of a product or design to exclusively sell a product for  period of time. The time frame is usually 20 years.

During this period, competitors are not allowed to make, use or sell the invention. A patent should be amortized over the shorter of the inventor's life or its economic life.

Types of patents include:

  • utility patents
  • design patents
  • plant patent

To learn more about patents, please check: https://brainly.com/question/13896945

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