Elements of Reality and the Failure of the Product Rule Measurability of Commuting Observables

The concept of ``elements of reality" is analyzed within the framework of quantum theory. It is shown that elements of reality fail to fulfill the product rule. This is the core of recent proofs of the impossibility of a Lorentz-invariant interpretation of quantum mechanics. A generalization and extension of the concept of elements of reality is presented. Lorentz-invariance is restored by giving up the product rule. The consequences of giving up the ``and" rule, which must be abandoned together with the product rule, are discussed.