Question 1

Most industrial products are sold through

Accepted Answer

A)  direct sales. 
B)  retailers. 
C)  producers. 
D)  computer networks. 
A)  direct sales. 
B)  retailers. 
C)  producers. 
D)  computer networks. A

Question 2

Which is not a benefit of registering a trademark with the Patent and Trademark Office?

Accepted Answer

A)  it provides notice of the trademark owner's claim. 
B)  jurisdiction of federal courts may be invoked. 
C)  the trademark cannot be used until it is registered. 
D)  All of the above. 
A)  it provides notice of the trademark owner's claim. 
B)  jurisdiction of federal courts may be invoked. 
C)  the trademark cannot be used until it is registered. 
D)  All of the above. C

Question 3

When choosing a distribution channel, which of the following should be considered?

Accepted Answer

A)  Will the product be sold in the consumer or industrial market? 
B)  What is the geographic location and number of customers? 
C)  What are the product characteristics? 
D)  All of the above. 
A)  Will the product be sold in the consumer or industrial market? 
B)  What is the geographic location and number of customers? 
C)  What are the product characteristics? 
D)  All of the above. D

Question 4

In order to succeed, which of the following must be correct when the product is first introduced?

Accepted Answer

A)  Quality 
B)  Pricing 
C)  Customer experience 
D)  All of the above 
A)  Quality 
B)  Pricing 
C)  Customer experience 
D)  All of the above

Question 5

A utility patent might be granted for

Accepted Answer

A)  a new process. 
B)  a new design of a manufactured article. 
C)  a new type of plant. 
D)  all of the above. 
A)  a new process. 
B)  a new design of a manufactured article. 
C)  a new type of plant. 
D)  all of the above.

Question 6

Which of the following is true?

Accepted Answer

A)  There are many ways to brainstorm to develop new products. 
B)  In order to be successful, a new product must have the right channel of distribution. 
C)  New products may obtain legal protection through a patent, copyright, trademark, or trade secret. 
D)  All of the above. 
A)  There are many ways to brainstorm to develop new products. 
B)  In order to be successful, a new product must have the right channel of distribution. 
C)  New products may obtain legal protection through a patent, copyright, trademark, or trade secret. 
D)  All of the above.

Question 7

Direct marketing, wholesalers, and agents are different types of

Accepted Answer

A)  legal protection. 
B)  dealer promotions. 
C)  distribution channels. 
D)  departmentalization. 
A)  legal protection. 
B)  dealer promotions. 
C)  distribution channels. 
D)  departmentalization.

Question 8

A nondisclosure document is a document that states the signator will not

Accepted Answer

A)  look at the patent application. 
B)  discuss the idea with anyone else or use it for personal gain. 
C)  use a manufacturers; representative to sell the product. 
D)  use the idea outside the industry stated in the document. 
A)  look at the patent application. 
B)  discuss the idea with anyone else or use it for personal gain. 
C)  use a manufacturers; representative to sell the product. 
D)  use the idea outside the industry stated in the document.

Question 9

A U.S. patent prevents others from _________ the same invention in the United States.

Accepted Answer

A)  making 
B)  using 
C)  selling 
D)  all of the above 
A)  making 
B)  using 
C)  selling 
D)  all of the above

Question 10

There are differing statistics concerning the failure rate for new products because

Accepted Answer

A)  some studies count all new product ideas under development and others count only those that are test-marketed. 
B)  not all distribution channels are included in the studies. 
C)  products without legal protection are not included in the studies. 
D)  there are disagreements as to what constitutes a "new" product. 
A)  some studies count all new product ideas under development and others count only those that are test-marketed. 
B)  not all distribution channels are included in the studies. 
C)  products without legal protection are not included in the studies. 
D)  there are disagreements as to what constitutes a "new" product.

Question 11

choosing a distribution channel an entrepreneur should use the same channels as competitors.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is FALSE?

Accepted Answer

A)  A patent protects the inventor from claims that his/her product infringes on an existing patent. 
B)  A patent search may not identify patents that are pending. 
C)  A United States patent does not provide protection in foreign countries. 
D)  None of the above. 
A)  A patent protects the inventor from claims that his/her product infringes on an existing patent. 
B)  A patent search may not identify patents that are pending. 
C)  A United States patent does not provide protection in foreign countries. 
D)  None of the above.

Question 13

For any works created after January 1, 1978, copyrights are granted for

Accepted Answer

A)  14 years. 
B)  17 years. 
C)  the life of the author. 
D)  the life of the author plus seventy years. 
A)  14 years. 
B)  17 years. 
C)  the life of the author. 
D)  the life of the author plus seventy years.

Question 14

With certain exceptions only the inventor may apply for a patent.

Accepted Answer

A) True 
 B)False

Question 15

If an entrepreneur is developing a new product and must discuss the idea with someone, he or she may ask that person to sign a(n)

Accepted Answer

A)  nondisclosure document. 
B)  copyright. 
C)  industry agreement. 
D)  agreement of understanding. 
A)  nondisclosure document. 
B)  copyright. 
C)  industry agreement. 
D)  agreement of understanding.

Question 16

Entrepreneurs may find it difficult to secure a distribution channel because

Accepted Answer

A)  retailers often do not want to stock a product unless there is proof of demand. 
B)  direct marketing channels may require a minimum inventory level. 
C)  retailers may require a minimum advertising level. 
D)  all of the above. 
A)  retailers often do not want to stock a product unless there is proof of demand. 
B)  direct marketing channels may require a minimum inventory level. 
C)  retailers may require a minimum advertising level. 
D)  all of the above.

Question 17

Competitors cannot circumvent patents by making minor changes in the design of the patented product.

Accepted Answer

A) True 
 B)False

Question 18

Companies such as Avon, Mary Kay Cosmetics, and Amway are examples of

Accepted Answer

A)  direct marketing. 
B)  agent wholesalers. 
C)  intangible marketing. 
D)  contact marketing. 
A)  direct marketing. 
B)  agent wholesalers. 
C)  intangible marketing. 
D)  contact marketing.

Question 19

A trademark is a word, symbol, name, or device that a business uses to identify its goods and distinguish them from others.

Accepted Answer

A) True 
 B)False

Question 20

There is no federal law prohibiting the theft of a trade secret.

Accepted Answer

A) True 
 B)False

Most industrial products are sold through

Which is not a benefit of registering a trademark with the Patent and Trademark Office?

When choosing a distribution channel, which of the following should be considered?

In order to succeed, which of the following must be correct when the product is first introduced?

A utility patent might be granted for

Which of the following is true?

Direct marketing, wholesalers, and agents are different types of

A nondisclosure document is a document that states the signator will not

A U.S. patent prevents others from _________ the same invention in the United States.

There are differing statistics concerning the failure rate for new products because

choosing a distribution channel an entrepreneur should use the same channels as competitors.

Which of the following is FALSE?

For any works created after January 1, 1978, copyrights are granted for

With certain exceptions only the inventor may apply for a patent.

If an entrepreneur is developing a new product and must discuss the idea with someone, he or she may ask that person to sign a(n)

Entrepreneurs may find it difficult to secure a distribution channel because

Competitors cannot circumvent patents by making minor changes in the design of the patented product.

Companies such as Avon, Mary Kay Cosmetics, and Amway are examples of

A trademark is a word, symbol, name, or device that a business uses to identify its goods and distinguish them from others.

There is no federal law prohibiting the theft of a trade secret.

Introduction

Management and Personnel

Start-Up Costs and Financing

The Legal Section

Insurance

Suppliers

Entrepreneurship Today

The Entrepreneur

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Exam 15: New Product Development

Most industrial products are sold through

Which is not a benefit of registering a trademark with the Patent and Trademark Office?

When choosing a distribution channel, which of the following should be considered?

In order to succeed, which of the following must be correct when the product is first introduced?

A utility patent might be granted for

Which of the following is true?

Direct marketing, wholesalers, and agents are different types of

A nondisclosure document is a document that states the signator will not

A U.S. patent prevents others from _________ the same invention in the United States.

There are differing statistics concerning the failure rate for new products because

choosing a distribution channel an entrepreneur should use the same channels as competitors.

Which of the following is FALSE?

For any works created after January 1, 1978, copyrights are granted for

With certain exceptions only the inventor may apply for a patent.

If an entrepreneur is developing a new product and must discuss the idea with someone, he or she may ask that person to sign a(n)

Entrepreneurs may find it difficult to secure a distribution channel because

Competitors cannot circumvent patents by making minor changes in the design of the patented product.

Companies such as Avon, Mary Kay Cosmetics, and Amway are examples of

A trademark is a word, symbol, name, or device that a business uses to identify its goods and distinguish them from others.

There is no federal law prohibiting the theft of a trade secret.

Introduction

Management and Personnel

Start-Up Costs and Financing

The Legal Section

Insurance

Suppliers

Entrepreneurship Today

The Entrepreneur

Starting a New Business

Buying an Existing Business

Franchising

Women-Owned and Minority-Owned Businesses

Home-Based Businesses

Family Businesses

Business Growth and the Entrepreneur

Global Business

Filters