Exam 12: The Importance of Intellectual Property

________ marks are trademarks or service marks used by the members of a cooperative, association, or other collective group, including marks indicating membership in a union or similar organization.

________ patents are the second most common type of patent and cover the invention of new, original, and ornamental designs for manufactured products.

There are two primary rules of thumb for deciding if intellectual property protection should be pursued for a particular intellectual asset. First, a firm should determine if the intellectual property has value in the marketplace. Second, a firm should determine if its intellectual property ________.

Which of the following items would typically be protected by a form of intellectual property protection other than trade secret statutes?

Identify and briefly describe the three types of patents.

Which of the following selections correctly identifies the three types of patents?

Pictorial, graphic, and sculptural works can be protected via copyrights.

Consider the following questions: Do our products under development require patent protection? Are we in compliance with the copyright license agreements into which we have entered? Is anyone infringing on our trademarks? Are company trade secrets leaking out to competitors? These are the types of questions that would be asked when conducting a(n) ________.

Which of the following statements about copyrights is incorrect?

Marks that are merely descriptive of a product or service can be trademarked.

Which of the following was NOT identified in the textbook as one of the common mistakes that entrepreneurs make regarding intellectual property?

What is a copyright? What is protected by a copyright?

A ________ is any formula, pattern, physical device, idea, process, or other information that provides the owner of the information with a competitive advantage in the marketplace.

The sole entity responsible for granting patents in the United States is the ________.

Patents, trademarks, copyrights, and licenses are the four key forms of intellectual property.