Tips on Writing a Patent Application Abstract

The abstract is part of a written patent application. It’s a short summary of your invention, no more than a paragraph, and it appears at the beginning of the application. Think of it as a condensed version of your patent where you can abstract – or take out and focus on – the essence of your invention.   Here are the basic rules for  an abstract from the United States Patent and Trademark Office, Law MPEP 608.01(b), Abstract of the Disclosure: A brief abstract of the technical disclosure in the specification must commence on a separate sheet, preferably following the claims, under the heading Abstract or Abstract of the Disclosure. The abstract in an application filed under 35 U.S.C. 111 may not exceed 150 words in length. The purpose of the abstract is to enable the United States Patent and Trademark Office and the public generally to determine quickly from a cursory inspection the nature and gist of the technical disclosure. Why Is an Abstract Necessary?   Abstracts are used primarily for searching patents. They should be written in a way that makes the invention easily understood by anyone with a background in the field. The reader should be able to quickly get a sense of the nature of the invention so he can decide whether he wants to read the rest of the patent application.   The abstract describes your invention. It says how it can be used, but it does not discuss the scope of your claims, which are  the legal reasons why your idea should be protected by a patent protected, providing it with a legal shield that prevents it from being stolen by others.   Writing Your Abstract Give the page a title, such as Abstract or Abstract of the Specification if you’re applying to the Canadian Intellectual Property Office. Use Abstract of the Disclosure if you’re applying to the United States Patent and Trademark Office.   Explain what your invention is and  tell the reader what it will be used for. Describe the main components of your invention and how they work. Don’t refer to any claims, drawings or other elements that are included in your application. Your abstract is intended to be read on its own so your reader won’t understand any references you make to other parts of your application.   Your abstract  must be 150 words or less. It may take you a couple of tries to fit your summary into this limited space. Read it over a few times to eliminate unnecessary words and jargon. Try to avoid removing articles such as â€Å"a,† â€Å"an† or â€Å"the† because this can make the abstract difficult to read. This information comes from the Canadian Intellectual Property Office or CIPO. The tips would also be helpful for patent applications to the USPTO or World Intellectual Property Organization.

Slavery And The Coming Of The War - 1474 Words

Kenneth Hicks History 1376 Dr. Hopkins Paper Assignment #3 12/6/2015 Slavery and the Coming of the War During the 1850s, slavery had become a topic of great discussion, especially when it came to the organization of new territories, and whether slavery should be allowed or prohibited in these new territories. Some argued that slavery was right, while others though it was not and should be ended, causing fear and anger between the free-states in the North and the Southern Slave states. This would lead to many problems for the nation. These problems not only created a division between the northern and southern states, it caused blood to be spilled and led to beginning of the American Civil War. Within these events, four significant ones created the spark needed to start the Civil War. These events were the Kansas Nebraska Act of 1854, Bleeding Kansas, Harper’s Ferry Raid, and the Secession of the South from the Union, which created a division between northern and southern states and made the American Civil War inevitable. The event that started the chain reaction of the American Civil War was the Kansas-Nebraska Act of 1854. This bill was created and implemented by Stephen Douglas, a Democratic Senator out of Illinois, shortly after he steps in after Henry Clay. With the intention of becoming president, Stephen Douglass wanted to organize territory from the Louisiana Purchase, with also building a railroad that would stretch across the Midwest, however, an important questionShow MoreRelatedThe Fate Of Their Country : Politicians, Slavery Extensions, And The Coming Of Civil War1344 Words   |  6 PagesThe author of â€Å"The fate of their Country: Politicians, Slavery Extensions, and the coming of Civil War†, Michael F. 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Defining Financial Terms and Role in Finance Free Essays

Defining Financial Terms and Role in Finance University of Phoenix FIN 370/ Finance for Business November 10, 2010 Defining Financial Terms and Role in Finance The following paragraphs contain financial terms and their role in finance. The terms are finance, efficient market, primary market, secondary market, risk, security, stock, bond, capital, debt, yield, rate of return, return on investment, and cash flow. The fourteen terms all have an important relationship in the world of business. We will write a custom essay sample on Defining Financial Terms and Role in Finance or any similar topic only for you Order Now The first term is finance. Finance is managing money or supplying funds to provide a resource. A bank or loan company is a source of finance because they both provide cash. Cash is the resource that one needs to survive or make a purchase. For instance, when a customer walks into a car dealership and is ready to buy a car, the salesperson draws up the paperwork and two items are in need. The first item is cash and the second is the search for a finance company to finance the car. The role of finance in this example is the customer can provide the cash to make the purchase and the finance company can supply the funds and terms of agreement to help the owner purchase the car. The second term is efficient market. Efficient market is a hypothesis that prices prevail in the market is always fair. Its role in finance according to EMH is no one can make high return without buying riskier investment as market prices are always fair. The third term is primary market. Primary market is when securities, stocks and bonds, are offered to potential investors for the first time.Companies like Verizon or AT amp; T can issue or sell securities directly to an investor. The primary market role in finance is to allow the potential investor to buy from the company and not other investors to increase the stock. The fourth term is secondary market. Secondary market is opposite of primary because it allows the investor to buy stocks and bonds from each other rather than the original company. The role of finance in secondary market is its affect on price. The price is more or less than the issue price of the original company. The fifth term is risk.Risk is the uncertainty or chance of a difference in the actual return earned on investment and the expected return earned on the investment. There are three types of risk: market, credit, and operational. The company return on an investment depends on which risk the company took. For example, people and companies take risk sometimes when they make a financial investment or provide equipment and supplies for an opportunity to receive a high return on their investment. The role of finance for a risk is the uncertainty if they will receive payment for their investment.The higher the risk means the higher the return. The lower the risk means the lower the return. The next three terms have a correlation. The terms are security, stock, and bond. Security in finance is the relationship and representation of stocks and bonds. Some securities are interest and dividend based. Common and preferred stock, bonds, notes, debenture, and option are some examples of securities. A stock represents ownership in a business, has face value, and may not carry a maturity date. A stock’s role in finance is as follows. Common stock has no fixed rate of dividend and has voting rights. Preferred stock has a fixed rate of dividend and no voting rights and preferred are the two types of stock. A bond is the last term of correlation. A bond is a fixed income security. A bond is a debt with interest, a maturity, mode of payment, and a principal. A bond’s role in finance is that it can be issued as a long term debt and requires the company to pay on the interest even if they made a loss in profit or not. Capital is the amount of money an owner has invested in his or her business. The role of capital in finance is simple. A sole proprietor has a single investment.A partnership has multiple investments and a corporation’s amount of investment is shared by the stockholders. The capital has different amounts of investment in all three forms of businesses. In accounting, a debt is a liability to be paid back in terms to the source of finance. It can be long or short term. A debt’s role in finance is that is an expense to a company that has interest payable. Rate of returned based on market price is called yield. For example, if an investor has bought shares of $10 par and company declares dividend of 10% in cash and still the market is at par.IT means that yield earned on share is equal to dividend declared. Now if market price is different from par, say it is $20, now dividend declared is same but dividend yield is 5%. Any profit or loss that has been made for a specified period on investment is called the profit or loss in $ on your investment and when it is converted into percentage it is called rate of return. If a person invests $10,000 in January and in December it increases to $12,000, then the terms of investment for the year is $2,000. The rate of return is 20% per annum because (2000/10000)*100=20%.Return on investment is the profit or loss made on the investment. Return on investment is similar to rate of return and is a ratio that describes the company’s measurement of profit. For example, Tree and Rocks Company has profit after tax for year equal to $130 million and total assets are $1300 million, it means return on investment is 10%. Cash Flow is revenue received and paid in cash. The cash flow statement shows the cash inflows and outflows in real terms of a business. Operating, investing, and financing activities are three categories on a cash flow statement.The three categories and their role in finance are detrimental to the company. The revenue and expenses incurred during a specified time period are entered in the operating activities. Buying and selling of fixed assets and other investments are entered in the investing activities. Long term debt, issuance of common and preferred stock is entered in the financing activities. The thirteen terms defined in the earlier paragraphs have a specific role in finance. The terms and their roles surround everyone in some situation every day.It is important to know the above terms and how they relate to one another in this course.Reference Keown, A. J. , Martin, J. D. , Petty, J. W. , amp; Scott, D. F. (2005). Financial Management: Principles and applications (10th ed. ). Upper Saddle River, NJ: Pearson/Prentice Hall. Mayo, H. B. (2007). Basic finance: An introduction to financial institutions, investments, and management (9th ed. ). Mason, OH: Thomson. Sulock, J. M. , amp; Dunkelberg, J. (1997). Cases in financial management (2nd ed. ). New York: John Wiley amp; Sons. How to cite Defining Financial Terms and Role in Finance, Papers

Competition and Financial Accounting Skullduggery

Question: Discuss about theCompetition and Financial Accounting for Skullduggery. Answer: Introduction In this article there is discussion of the activities of accounting skullduggery of the companies. It has been observed that there are more than $26 Billion dollars in write down that has been observed in companies such as BHP Billiton, South32, Rio Tinto, Santos, Woolworths, Orica, Woodside that has been to the collapse of more than $44 billion collapse. These kinds of write down practices has grown immensely in the last year. The Australian Securities and Investment commission has stated that it would investigate into this matter. Woolsworth company had somehow converted 800-million-dollar profit from 1.2-billion-dollar profit. If this had occurred in countries such as the United States, the SEC of the country there would have been stringent actions against these practices by the corporation. The ASIC considers the companies to follow the ethical mandates and have proper regulatory practices. The remuneration to the top management is higher and is also a problem. Response The Australian Accounting Standards is a part of the Australian government that is used to develop and maintain regulation of the financial reporting standards of the company. This applied to the private and the public sectors of the company. In this the companies are expected to balance between the stakeholder interests more than the shareholder or investor interests. The corporate governance of the company favors only some stakeholders and they ensure that the people (Balakrishnan Cohen, 2013). There is also the incorporation of the positive accounting theory of opportunistic perspective that is adopted in the accounting practices of the company (Bazley et al., 2012) . The oversight and the ethical committee of the companies should do more to address these claims. To conclude the article discusses about the ethical mandates required while balancing the budget. Durkin, P. ( 2016, September 16). Accounting skullduggery hides $26b in losses. Australian Financial Review,.p. Retrieved from https://www.afr.com/business/accounting-skulduggery-hides-26b-in-losses-20160918-grit83 Article 2 Summary In this article there is critical view of the HSBC reporting of the people retirement savings. There is the concept of positive bias in their retirement accounts and there is underestimation of the costs involved in the process. There are a number of biases that has been found in the report that the author argues. The issues with the positive accounting theory when accounting for the personal retirement accounts has been detailed in this article. The biases such as earning more would lead to better retirement lives or that selling of assets would mean a better quality of life has been disputed in this article. To summarize the article, it points out towards the issues of positive accounting theory and overestimation. Response to the Article Positive accounting theory tries to make positive accounts and predictions about the real world events and uses these positive assumptions to the accounting transactions (Deegan, 2012). There was discussion in the 7th sessions of the importance of positive accounting theories. Normative theories on the other hand discusses about what needs to be done. But the positive theories explain the positive bias and predicts the events. The reasons firms use this practices is to ensure that there is maximization of the prospects used for survival. The issues in the positive accounting theories is that they make invalid assumptions. There is no systematic or scientific review of what needs to be done nor is the predictions assured (Horngren, et al., 2012) . The positive accounting theory in the past has not been able to show substantial positive growth in the markets. Even though it has been in play from 1970 onwards. The issues of positive accounting theory and its inherent limitations has bee n explained in this article from a practical perspective. Patten, S ( 2016 August 2016) Accentuating the positive can backfire in retirement, warns HSBC. Australian Financial Review, P. Retrieved from https://www.afr.com/personal-finance/accentuating-the-positive-can-backfire-in-retirement-20160801-gqi3tt Article 3 Summary of the Article Wesfarmers had said that the actual earnings of Target would be 53 million dollars and not 74 million that was reported by Target. This is a 5.7% difference in the reporting. 21 million dollars was assumed to arise from the rebate arrangement. Apart from this there was the issue of plunging coal prices in the last year. This had caused the company to suffer a lot of losses. The remuneration losses for the executives were considered to be 10 million dollars. However, in spite of this the Wesfarmers executive remuneration was more than 1 million dollars. The short term incentive payments and the inherent risks of the process has been reported in this article. Response to the Article While an accounting reporting is made the most important aspect is maintaining the ethics. This is the core value of the corporate governance. Meeting bottom lines, maximization of the earning and adding of the intangibles in the accounting balance sheets are added in order to keep the investors of the company satisfied. However, in this case there has been considerable losses yet the management continues to receive considerable amount in bonuses in spite of the losses posted. The ethics review of the company needs to reexamine the practices of bonus payout to the top executive (Macve, 2015). To summarize it is quite clear that the company should have a better ethics and corporate governance practices in place. Greenblat, E ( 2016, September 22) Troubled year costs Wesfarmers executives $10m in entitlements, The Australian, Retreived from https://www.theaustralian.com.au/business/companies/troubled-year-costs-wesfarmers-executives-10m-in-entitlements/news-story/40434a5917e419327c68a3eaff7bf63e Article 4 Summary of the Article Shine Lawyers face the risk of a class action after the collapse of the share price. The Shine lawyers are blamed for the 75% decline in the share price. This had wiped over 253 million in the market capitalization. Reason for the class action is that Shine has been criticized for over-estimating the firms ability in recovering from the loses. The company has however declined that they had ever committed any wrong doing. Over estimation of the company progress is the reason cited for the class action brought against the company. The class action has been brought against the company. Response to the Article The issue in the article can be linked to the positive accounting theory and is considered to be opportunistic perspective. This is assumed that the managers were driven by self interest and also had employed in creative accounting practices where the objectivity has not been considered. It seems to refer that the people responsible for the accounting practices were not clear and has caused this issue to arise (Henderson et al., 2015) . Shine lawyers would have been prematurely motivated to reported the revenue that there would be a future profit in the future. This is the reason for the company to face the class action. While the intention or the actions of the Shine company are yet to be uncovered it is quite clear that the company has not been meeting objectives and there is an obvious issue in the operational procedure of the company. Merrit, C ( 23rd September 2016) Shine faces class action from investors over share price fall The Australian Retrieved from https://www.theaustralian.com.au/business/legal-affairs/shine-faces-class-action-from-investors-over-share-price-fall/news-story/dd911bf7579321570aa642b2f6ab499c Reference: Balakrishnan, K., Cohen, D. A. (2013). Competition and financial accounting misreporting.Available at SSRN 1927427. Bazley, M., Hancock, P., Fisher, C., Lovell, A., Berk, J., DeMarzo, P., ... DeMarzo, P. (2013).Financial Accounting: An Integrated. Thomson Pty Ltd, South Melbourne. Deegan, C. (2012).Australian financial accounting. McGraw-Hill Education Australia. Durkin, P. ( 2016, September 16). Accounting skullduggery hides $26b in losses. Australian Financial Review,.p. Retrieved from https://www.afr.com/business/accounting-skulduggery-hides-26b-in-losses-20160918-grit83 Greenblat, E ( 2016, September 22) Troubled year costs Wesfarmers executives $10m in entitlements, Retreived from https://www.theaustralian.com.au/business/companies/troubled-year-costs-wesfarmers-executives-10m-in-entitlements/news-story/40434a5917e419327c68a3eaff7bf63e Henderson, S., Peirson, G., Herbohn, K., Howieson, B. (2015).Issues in financial accounting. Pearson Higher Education AU. Horngren, C., Harrison, W., Oliver, S., Best, P., Fraser, D., Tan, R. (2012).Financial Accounting. Pearson Higher Education AU Macve, R. (2015).A Conceptual Framework for Financial Accounting and Reporting: Vision, Tool, Or Threat?. Routledge. Merrit, C ( 23rd September 2016) Shine faces class action from investors over share price fall The Australian Retrieved from https://www.theaustralian.com.au/business/legal-affairs/shine-faces-class-action-from-investors-over-share-price-fall/news-story/dd911bf7579321570aa642b2f6ab499c Patten, S ( 2016 August 2016) Accentuating the positive can backfire in retirement, warns HSBC. Australian Financial Review, P. Retrieved from https://www.afr.com/personal-finance/accentuating-the-positive-can-backfire-in-retirement-20160801-gqi3tt