Cost of a Patent On January 4, 2013, Franc Company purchased for $27,000 a patent
Question # 00289655
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Updated on: 05/20/2016 02:10 AM Due on: 06/19/2016
Cost of a Patent
On January 4, 2013, Franc Company purchased for $27,000 a patent that had been filed 8 years earlier. The patent covers a manufacturing process that the company plans to use for 15 years. On January 3, 2014, the company paid its lawyers $10,000 for successfully defending the patent in a lawsuit.
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Solution: Cost of a Patent On January 4, 2013, Franc Company purchased for $27,000 a patent