Lucy started a business called StaffordWelly. It makes boots with a high heel to appeal to women and festival-goers.
Lucy wanted to expand StaffordWelly but needed additional capital. They appeared on the television programme SharkTank.
Lucy needed to protect her design by using a patent. What is a possible benefit of a patent?
A patent ………
Select ONE answer:
- Is an insurance policy that provides protection for 20 years
- Prevents other businesses from using the brand name
- Establishes sole rights to the use of a product
- Ensures that a business will not make any losses
Show the workings to arrive at your answer, and explain and justify your reasons:
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This multiple-choice question is suitable for Business Studies KS4 & KS3 classes
The answer is 3 – the other answers would not necessarily be a possible benefit of a patent.
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