Question 1

Briefly discuss what a utility patent protects.

Accepted Answer

A utility patent protects the functional part of machines or processes. Examples include toys, film processing, protective coatings, tools, and cleaning implements. Also, software qualifies for patent protection if it produces a useful and tangible result. ​

Question 2

In order to trademark a color, the applicant must show all of these except:

Accepted Answer

A) That the color is integral to the applicant's business 
B) That the color has acquired a secondary meaning 
C) That the color is non-functional 
D) That the color has become identified with the applicant's business 
E) The applicant must show all of these choices 
A) That the color is integral to the applicant's business 
B) That the color has acquired a secondary meaning 
C) That the color is non-functional 
D) That the color has become identified with the applicant's business 
E) The applicant must show all of these choices A

Question 3

If a firm has a trade secret, and the principals of the firm discuss it in a public elevator: ​

Accepted Answer

A) The protection is lost 
B) The protection is heightened 
C) The protection remains the same 
D) None of these is correct 
E) The protection remains the same if those on the elevator are sworn to secrecy 
A) The protection is lost 
B) The protection is heightened 
C) The protection remains the same 
D) None of these is correct 
E) The protection remains the same if those on the elevator are sworn to secrecy A

Question 4

The primary means of protecting an original invention is:

Accepted Answer

A) Patent 
B) Copyright 
C) Trademark 
D) Trade secret 
E) None of these choices 
A) Patent 
B) Copyright 
C) Trademark 
D) Trade secret 
E) None of these choices

Question 5

The primary means of protecting a written work is a:

Accepted Answer

A) trademark 
B) copyright 
C) trade secret 
D) patent 
E) None of these choices 
A) trademark 
B) copyright 
C) trade secret 
D) patent 
E) None of these choices

Question 6

Which of the following is not eligible for a patent?

Accepted Answer

A) A machine 
B) A business method 
C) A naturally occurring substance 
D) An improvement on a machine 
E) A food additive 
A) A machine 
B) A business method 
C) A naturally occurring substance 
D) An improvement on a machine 
E) A food additive

Question 7

Briefly discuss patent infringement.

Accepted Answer

​ Patent infringement occurs when someon

Question 8

Once a trade secret has been developed, it must be kept confidential, or its value may be lost.

Accepted Answer

A) True 
 B)False

Question 9

In the context of patent protection, ____ is knowledge that is publicly available or was published prior to the date of the invention - that is, before the filing of the patent application.

Accepted Answer

A) utility 
B) prior art 
C) copyright 
D) intellectual property 
E) None of these choices 
A) utility 
B) prior art 
C) copyright 
D) intellectual property 
E) None of these choices

Question 10

Copyright law protects:

Accepted Answer

A) The concept 
B) The idea 
C) The thought process 
D) The form in which the idea is displayed 
E) None of these choices 
A) The concept 
B) The idea 
C) The thought process 
D) The form in which the idea is displayed 
E) None of these choices

Question 11

Which of the following marks would not be eligible to become trademarks or servicemarks?

Accepted Answer

A) A mark that is immoral 
B) A mark that is deceptive 
C) A mark that uses an official symbol of the city where the applicant resides 
D) A mark that uses a clip from a Taylor Swift album without telling her 
E) None of these would be eligible to become marks 
A) A mark that is immoral 
B) A mark that is deceptive 
C) A mark that uses an official symbol of the city where the applicant resides 
D) A mark that uses a clip from a Taylor Swift album without telling her 
E) None of these would be eligible to become marks

Question 12

There are no legal means under patent or trademark law to protect trade secrets. ​

Accepted Answer

A) True 
 B)False

Question 13

Briefly discuss the three strategies a business might use to coordinate its IP strategy with its business strategy.

Accepted Answer

The three major patent strategies that a

Question 14

In the knowledge economy:

Accepted Answer

A) IP assets are more valuable than physical assets 
B) Physical assets are more valuable than IP assets 
C) In a well-run firm, IP assets and physical assets have equal value 
D) Physical assets cannot be protected 
E) None of the above is true 
A) IP assets are more valuable than physical assets 
B) Physical assets are more valuable than IP assets 
C) In a well-run firm, IP assets and physical assets have equal value 
D) Physical assets cannot be protected 
E) None of the above is true

Question 15

Briefly discuss prior art and its effect on a patent application.

Accepted Answer

The existence of prior art for a particu

Question 16

Briefly discuss intellectual-property rights.

Accepted Answer

These are the legal rights associated wi

Question 17

Regarding trade secrets, which of the following statements is not correct?

Accepted Answer

A) Any firm that has trade secrets protects them under the Uniform Trade Secrets Act 
B) Trade secrets are not protectable under patent and trademark law 
C) A trade secret may consist of a formula, device, idea, process, or compilation of information 
D) All of the above choices are correct 
E) Only A and B are correct 
A) Any firm that has trade secrets protects them under the Uniform Trade Secrets Act 
B) Trade secrets are not protectable under patent and trademark law 
C) A trade secret may consist of a formula, device, idea, process, or compilation of information 
D) All of the above choices are correct 
E) Only A and B are correct

Question 18

Like patents, ____ can suffer from infringement, counterfeiting, or misappropriation.

Accepted Answer

A) trade secrets ​ 
B) copyrights 
C) trademarks 
D) All of these choices 
E) "trade secrets" and "copyrights" only 
A) trade secrets ​ 
B) copyrights 
C) trademarks 
D) All of these choices 
E) "trade secrets" and "copyrights" only

Question 19

____ protect original works of authors, composers, screenwriters, and computer programmers.

Accepted Answer

A) International protection 
B) Copyrights 
C) Trade secrets 
D) A patent 
E) All of these choices 
A) International protection 
B) Copyrights 
C) Trade secrets 
D) A patent 
E) All of these choices

Question 20

The ____ prohibits the falsification, alteration, or removal of copyright management data on digital copies, making  it a crime to circumvent an encrypted work without authorization.

Accepted Answer

A) trademark law ​ 
B) patent office 
C) Digital Millennium Copyright Act 
D) Trademark Dilution Revision Act 
E) All of these choices 
A) trademark law ​ 
B) patent office 
C) Digital Millennium Copyright Act 
D) Trademark Dilution Revision Act 
E) All of these choices

Briefly discuss what a utility patent protects.

In order to trademark a color, the applicant must show all of these except:

If a firm has a trade secret, and the principals of the firm discuss it in a public elevator:

The primary means of protecting an original invention is:

The primary means of protecting a written work is a:

Which of the following is not eligible for a patent?

Briefly discuss patent infringement.

Once a trade secret has been developed, it must be kept confidential, or its value may be lost.

In the context of patent protection, ____ is knowledge that is publicly available or was published prior to the date of the invention - that is, before the filing of the patent application.

Copyright law protects:

Which of the following marks would not be eligible to become trademarks or servicemarks?

There are no legal means under patent or trademark law to protect trade secrets.

Briefly discuss the three strategies a business might use to coordinate its IP strategy with its business strategy.

In the knowledge economy:

Briefly discuss prior art and its effect on a patent application.

Briefly discuss intellectual-property rights.

Regarding trade secrets, which of the following statements is not correct?

Like patents, ____ can suffer from infringement, counterfeiting, or misappropriation.

____ protect original works of authors, composers, screenwriters, and computer programmers.

The ____ prohibits the falsification, alteration, or removal of copyright management data on digital copies, making it a crime to circumvent an encrypted work without authorization.

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Prototyping a Solution

Calculating Startup Capital Requirements

Building the Founding Team

Preparing a Business Plan

Designing an Entrepreneurial Organization

Choosing the Legal Form of Organization

Developing the Startup Marketing Plan

Creating a Startup Funding Strategy

Incorporating Ethics and Social Responsibility Into the Business

Planning for Growth and Change

Funding Growth

Filters

Exam 7: Protecting the Startups Assets

Briefly discuss what a utility patent protects.

In order to trademark a color, the applicant must show all of these except:

If a firm has a trade secret, and the principals of the firm discuss it in a public elevator: ​

The primary means of protecting an original invention is:

The primary means of protecting a written work is a:

Which of the following is not eligible for a patent?

Briefly discuss patent infringement.

Once a trade secret has been developed, it must be kept confidential, or its value may be lost.

In the context of patent protection, ____ is knowledge that is publicly available or was published prior to the date of the invention - that is, before the filing of the patent application.

Copyright law protects:

Which of the following marks would not be eligible to become trademarks or servicemarks?

There are no legal means under patent or trademark law to protect trade secrets. ​

Briefly discuss the three strategies a business might use to coordinate its IP strategy with its business strategy.

In the knowledge economy:

Briefly discuss prior art and its effect on a patent application.

Briefly discuss intellectual-property rights.

Regarding trade secrets, which of the following statements is not correct?

Like patents, ____ can suffer from infringement, counterfeiting, or misappropriation.

____ protect original works of authors, composers, screenwriters, and computer programmers.

The ____ prohibits the falsification, alteration, or removal of copyright management data on digital copies, making it a crime to circumvent an encrypted work without authorization.

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Prototyping a Solution

Calculating Startup Capital Requirements

Building the Founding Team

Preparing a Business Plan

Designing an Entrepreneurial Organization

Choosing the Legal Form of Organization

Developing the Startup Marketing Plan

Creating a Startup Funding Strategy

Incorporating Ethics and Social Responsibility Into the Business

Planning for Growth and Change

Funding Growth

Filters

If a firm has a trade secret, and the principals of the firm discuss it in a public elevator:

There are no legal means under patent or trademark law to protect trade secrets.