Questions: Wyatt C. purchased a popular symbol that doubled its sales in the first year. The cost of this symbol is an asset called a patent copyright leasehold trademark

Wyatt C. purchased a popular symbol that doubled its sales in the first year. The cost of this symbol is an asset called a patent copyright leasehold trademark
Transcript text: 67 of 76 Concepts completed Multiple Choice Question Wyatt $C$. purchased a popular symbol that doubled its sales in the first year. The cost of this symbol is an asset called a $\qquad$ patent copyright leasehold trademark Need help? Review these concept resources. Read About the Concept
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Solution

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The answer is the fourth one (or D): trademark.

Explanation for each option:

  1. Patent: A patent is a form of intellectual property that gives the patent holder exclusive rights to a particular invention or process for a certain period of time. It is not typically associated with symbols or branding.
  2. Copyright: Copyright protects original works of authorship, such as literature, music, and art. It does not cover symbols used in commerce.
  3. Leasehold: A leasehold is a property interest where a lessee (tenant) holds rights to use and occupy real estate for a specified period under a lease agreement. It is unrelated to symbols or branding.
  4. Trademark: A trademark is a recognizable sign, design, or expression that identifies products or services of a particular source from those of others. It is commonly used for symbols, logos, and brand names, making it the correct answer in this context.

Summary: Wyatt C. purchased a popular symbol that doubled its sales in the first year. The cost of this symbol is an asset called a trademark.

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