{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T02:41:48-04:00", "answer_date": "2024-06-29 02:41:48", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4451330", "url": "\/study-help\/questions\/heeey-need-this-for-notes-xyz-corporation-purchased-a-patent-4451330", "question_creation_date_js": "2024-06-29T02:41:48-04:00", "question_creation_date": "Jun 29, 2024 02:41 AM", "meta_title": "[Solved] Heeey need this for notes! XYZ Corporatio | SolutionInn", "meta_description": "Answer of - Heeey need this for notes! XYZ Corporation purchased a patent on January 1, 2000 for $42,000. The purchase of the pate | SolutionInn", "meta_keywords": "heeey,notes,xyz,corporation,purchased,patent,january,1,2000,$42,000,purchase,enabled", "question_title_h1": "Heeey need this for notes! XYZ Corporation purchased a patent on January 1, 2000 for $42,000. The purchase of the patent enabled the company to", "question_title": "Heeey need this for notes! XYZ Corporation purchased a patent on January", "question_title_for_js_snippet": "Heeey need this for notes XYZ Corporation purchased a patent on January 1, 2000 for $42,000 The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benet from an invention for 12 years (from the date of acquisition) Note Answer each scenario independently Scenario 1 XYZ Corp , indeed, benefitted from having purchased the patent for 12 years 1 On January 1, 2003, what is the value of the company's patent XYZ Corporation purchased a patent on January 1, 2000 for $42,000 The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benet from an invention for 12 years (from the date of acquisition) Note Answer each scenario independently Scenario 1 XYZ Corp , indeed, benefitted from having purchased the patent for 12 years 2 On January 1, 2010, what is the value of the company's patent XYZ Corporation purchased a patent on January 1, 2000 for $42,000 The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benet from an invention for 12 years (from the date of acquisition) Note Answer each scenario independently Scenario 2 XYZ Corporation had use of the patent for five years from January 1, 2000 On January 1, 2005, XYZ Corporation was sued for patent infringement A judgment was rendered fairly quickly (in less than a week's time) on the case in favor of XYZ Corporation That the company has rights to benefit from the invention for the remaining ten years of the patent's legal life is upheld While the suit had little merit, the company was required to hire a lawyer for its defense The lawyer charged the company $8,000 for his services The lawyer's fee is capitalized to the value of the patent The company went on to use the patent for ten more years 1 On January 1, 2006, what is the value of the company's patent XYZ Corporation purchased a patent on January 1, 2000 for $42,000 The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benefit from an invention for 12 years (from the date of acquisition) Note Answer each scenario independently Scenario 2 XYZ Corporation had use of the patent for five years from January 1, 2000 On January 1, 2005, XYZ Corporation was sued for patent infringement A judgment was rendered fairly quickly (in less than a week's time) on the case in favor of XYZ Corporation That the company has rights to benefit from the invention for the remaining ten years of the patent's legal life is upheld While the suit had little merit, the company was required to hire a lawyer for its defense The lawyer charged the company $8,000 for his services The lawyer's fee is capitalized to the value of the patent The company went on to use the patent for ten more years 2 On January 1, 2014, what is the value of the company's patent", "question_description": "

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\"image\"image<\/div><\/div><\/div> XYZ Corporation purchased a patent on January 1, 2000 for $42,000. The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benet from an invention for 12 years (from the date of acquisition). Note: Answer each scenario independently. Scenario 1: XYZ Corp., indeed, benefitted from having purchased the patent for 12 years. 1. On January 1, 2003, what is the value of the company's patent? XYZ Corporation purchased a patent on January 1, 2000 for $42,000. The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benet from an invention for 12 years (from the date of acquisition). Note: Answer each scenario independently. Scenario 1: XYZ Corp., indeed, benefitted from having purchased the patent for 12 years. 2. On January 1, 2010, what is the value of the company's patent? XYZ Corporation purchased a patent on January 1, 2000 for $42,000. The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benet from an invention for 12 years (from the date of acquisition). Note: Answer each scenario independently. Scenario 2: XYZ Corporation had use of the patent for five years from January 1, 2000. On January 1, 2005, XYZ Corporation was sued for patent infringement A judgment was rendered fairly quickly (in less than a week's time) on the case -- in favor of XYZ Corporation. That the company has rights to benefit from the invention for the remaining ten years of the patent's legal life is upheld. While the suit had little merit, the company was required to hire a lawyer for its defense. The lawyer charged the company $8,000 for his services. The lawyer's fee is capitalized to the value of the patent. The company went on to use the patent for ten more years. 1. On January 1, 2006, what is the value of the company's patent? XYZ Corporation purchased a patent on January 1, 2000 for $42,000. The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benefit from an invention for 12 years (from the date of acquisition). Note: Answer each scenario independently. Scenario 2: XYZ Corporation had use of the patent for five years from January 1, 2000. On January 1, 2005, XYZ Corporation was sued for patent infringement. A judgment was rendered fairly quickly (in less than a week's time) on the case -- in favor of XYZ Corporation. That the company has rights to benefit from the invention for the remaining ten years of the patent's legal life is upheld. While the suit had little merit, the company was required to hire a lawyer for its defense. The lawyer charged the company $8,000 for his services. The lawyer's fee is capitalized to the value of the patent. The company went on to use the patent for ten more years. 2. On January 1, 2014, what is the value of the company's patent", "transcribed_text": "", "related_book": { "title": "Accounting Principles", "isbn": "1119491630, 978-1119491637, 978-0470534793", "edition": "10th Edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/54.jpg", "uri": "\/textbooks\/accounting-principles-10th-edition-54", "see_more_uri": "" }, "free_related_book": { "isbn": "1626560285", "uri": "\/textbooks\/how-to-be-a-positive-leader-small-actions-big-impact-1st-edition-9781626560284", "name": "How To Be A Positive Leader Small Actions Big Impact", "edition": "1st\u00a0Edition" }, "question_posted": "2024-06-29 02:41:48", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/two-lenses-one-converging-with-focal-length-20.0cm-and-one", "description": "Two lenses, one converging with focal length 20.0cm and one diverging with focal length 10.0cm, are placed 25.0cm apart. An object is placed 60.0cm in front of the converging lens. Determine? 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