Which statement is incorrect?Industrial designs are decorative, not functional.Trademark passing off is based on a tort.Patents must be useful and have market value.Inventions that are improvements to other inventions may be patented.
Question
Which statement is incorrect?Industrial designs are decorative, not functional.Trademark passing off is based on a tort.Patents must be useful and have market value.Inventions that are improvements to other inventions may be patented.
Solution
The incorrect statement is: "Patents must be useful and have market value." While it's true that patents must be useful, they do not necessarily need to have market value. A patent is a form of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a limited period of years in exchange for publishing an enabling public disclosure of the invention. Market value is not a requirement for obtaining a patent.
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