Question 1

Which of the following is not a type of trademark?

Accepted Answer

A)  trademark 
B)  certification mark 
C)  documentation mark 
D)  collective mark 
E)  service mark 
A)  trademark 
B)  certification mark 
C)  documentation mark 
D)  collective mark 
E)  service mark C

Question 2

The average time for the approval of a patent is 19 months.

Accepted Answer

A) True 
 B)False  False

Question 3

________ are similar to ordinary trademarks, but they are used to identify the services or intangible activities of a business rather than a business's physical product.

Accepted Answer

A)  Creative marks 
B)  Intangible marks 
C)  Examination marks 
D)  Service marks 
E)  Subtle marks 
A)  Creative marks 
B)  Intangible marks 
C)  Examination marks 
D)  Service marks 
E)  Subtle marks D

Question 4

A trademark is registered with the:

Accepted Answer

A)  U.S. Commerce Department 
B)  Federal Trade Commission 
C)  Securities and Exchange Commission 
D)  Federal Patent, Copyright, and Trademark Office 
E)  U.S. Patent and Trademark Office 
A)  U.S. Commerce Department 
B)  Federal Trade Commission 
C)  Securities and Exchange Commission 
D)  Federal Patent, Copyright, and Trademark Office 
E)  U.S. Patent and Trademark Office

Question 5

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

Accepted Answer

A)  not fully recognizing the value of their intellectual property 
B)  not properly identifying all their intellectual property 
C)  not properly registering their Internet domain names 
D)  not using their intellectual property as part of their overall plan for success 
E)  not taking sufficient steps to protect their intellectual property 
A)  not fully recognizing the value of their intellectual property 
B)  not properly identifying all their intellectual property 
C)  not properly registering their Internet domain names 
D)  not using their intellectual property as part of their overall plan for success 
E)  not taking sufficient steps to protect their intellectual property

Question 6

The What Went Wrong feature in Chapter 12 focuses on Dippin' Dots, a company that sells ice cream snacks. Dippin' Dots lost the patent on its small beads of ice cream primarily because:

Accepted Answer

A)  it failed to obtain permission from a patent holder that has "prior art" pertaining to the claims in its patent 
B)  it had sold its ice cream product one year prior to applying for a patent 
C)  it filed its patent application incorrectly 
D)  its patent infringes on the patent of a competitor 
E)  it failed to renew its patent on time 
A)  it failed to obtain permission from a patent holder that has "prior art" pertaining to the claims in its patent 
B)  it had sold its ice cream product one year prior to applying for a patent 
C)  it filed its patent application incorrectly 
D)  its patent infringes on the patent of a competitor 
E)  it failed to renew its patent on time

Question 7

A trademark is renewable:

Accepted Answer

A)  every 10 years, as long as the mark remains in use 
B)  indefinitely, regardless of whether the mark remains in use 
C)  every 20 years from the date of application for the trademark 
D)  every 3 years 
E)  every 33 years 
A)  every 10 years, as long as the mark remains in use 
B)  indefinitely, regardless of whether the mark remains in use 
C)  every 20 years from the date of application for the trademark 
D)  every 3 years 
E)  every 33 years

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Amazon.com's one-click ordering system, Priceline.com's "name-your-price" business model and Netflix's method for allowing customers to set up a rental list of movies they want mailed to them are examples of:

Accepted Answer

A)  copyright extension patents 
B)  utility patents 
C)  business process protection patents 
D)  trademark extension patents 
E)  business method patents 
A)  copyright extension patents 
B)  utility patents 
C)  business process protection patents 
D)  trademark extension patents 
E)  business method patents

Question 10

An ________ is conducted to determine the intellectual property a company owns.

Accepted Answer

A)  intellectual property audit 
B)  intangible materials audit 
C)  academic property inventory 
D)  intellectual materials inventory 
E)  intangible property inventory 
A)  intellectual property audit 
B)  intangible materials audit 
C)  academic property inventory 
D)  intellectual materials inventory 
E)  intangible property inventory

Question 11

Which of the following is not generally eligible for trademark protection?

Accepted Answer

A)  trade dress 
B)  shapes 
C)  words 
D)  surnames 
E)  designs or logos 
A)  trade dress 
B)  shapes 
C)  words 
D)  surnames 
E)  designs or logos

Question 12

The owner of a patent is granted a legal monopoly for an unlimited period of time.

Accepted Answer

A) True 
 B)False

Question 13

Utility patents are the most common type of patent and cover what we generally think of as new inventions.

Accepted Answer

A) True 
 B)False

Question 14

An intellectual property audit is conducted to determine the intellectual property a company owns.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A copyright is a form of intellectual pr

Question 16

Combinations of numbers and letters, such as 3M and 1-800-FREE-411, cannot be trademarked.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following are the four key forms of intellectual property protection?

Accepted Answer

A)  patents, copyrights, trademarks, and trade secrets 
B)  discoveries, covenants, trademarks, patents 
C)  patents, official documents, copyrights, inventions 
D)  discoveries, Internet domain names, innovations, trademarks 
E)  convents, inventions, opportunities, and copyrights 
A)  patents, copyrights, trademarks, and trade secrets 
B)  discoveries, covenants, trademarks, patents 
C)  patents, official documents, copyrights, inventions 
D)  discoveries, Internet domain names, innovations, trademarks 
E)  convents, inventions, opportunities, and copyrights

Question 18

What are the two primary rules of thumb for determining whether intellectual property protection should be pursued for a particular intellectual asset?

Accepted Answer

First, a firm should determine whether t

Question 19

________ include marketing plans, product formulas, financial forecasts, employee rosters, logs of sales calls, and laboratory notebooks.

Accepted Answer

A)  Trade secrets 
B)  Trademarks 
C)  Collective marks 
D)  Patents 
E)  Copyrights 
A)  Trade secrets 
B)  Trademarks 
C)  Collective marks 
D)  Patents 
E)  Copyrights

Question 20

The 1976 Copyright Revision Act governs copyright law in the United States.

Accepted Answer

A) True 
 B)False

Which of the following is not a type of trademark?

The average time for the approval of a patent is 19 months.

________ are similar to ordinary trademarks, but they are used to identify the services or intangible activities of a business rather than a business's physical product.

A trademark is registered with the:

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

The What Went Wrong feature in Chapter 12 focuses on Dippin' Dots, a company that sells ice cream snacks. Dippin' Dots lost the patent on its small beads of ice cream primarily because:

A trademark is renewable:

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

Amazon.com's one-click ordering system, Priceline.com's "name-your-price" business model and Netflix's method for allowing customers to set up a rental list of movies they want mailed to them are examples of:

An ________ is conducted to determine the intellectual property a company owns.

Which of the following is not generally eligible for trademark protection?

The owner of a patent is granted a legal monopoly for an unlimited period of time.

Utility patents are the most common type of patent and cover what we generally think of as new inventions.

An intellectual property audit is conducted to determine the intellectual property a company owns.

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

Combinations of numbers and letters, such as 3M and 1-800-FREE-411, cannot be trademarked.

Which of the following are the four key forms of intellectual property protection?

What are the two primary rules of thumb for determining whether intellectual property protection should be pursued for a particular intellectual asset?

________ include marketing plans, product formulas, financial forecasts, employee rosters, logs of sales calls, and laboratory notebooks.

The 1976 Copyright Revision Act governs copyright law in the United States.

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Feasibility Analysis

Writing a Business Plan

Industry and Competitor Analysis

Developing an Effective Business Model

Preparing the Proper Ethical and Legal Foundation

Assessing a New Ventures Financial Strength and Viability

Building a New Venture Team

Getting Financing or Funding

Unique Marketing Issues

Preparing for and Evaluating the Challenges of Growth

Strategies for Firm Growth

Franchising

Filters

Exam 12: The Importance of Intellectual Property

Which of the following is not a type of trademark?

The average time for the approval of a patent is 19 months.

________ are similar to ordinary trademarks, but they are used to identify the services or intangible activities of a business rather than a business's physical product.

A trademark is registered with the:

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

The What Went Wrong feature in Chapter 12 focuses on Dippin' Dots, a company that sells ice cream snacks. Dippin' Dots lost the patent on its small beads of ice cream primarily because:

A trademark is renewable:

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

Amazon.com's one-click ordering system, Priceline.com's "name-your-price" business model and Netflix's method for allowing customers to set up a rental list of movies they want mailed to them are examples of:

An ________ is conducted to determine the intellectual property a company owns.

Which of the following is not generally eligible for trademark protection?

The owner of a patent is granted a legal monopoly for an unlimited period of time.

Utility patents are the most common type of patent and cover what we generally think of as new inventions.

An intellectual property audit is conducted to determine the intellectual property a company owns.

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

Combinations of numbers and letters, such as 3M and 1-800-FREE-411, cannot be trademarked.

Which of the following are the four key forms of intellectual property protection?

What are the two primary rules of thumb for determining whether intellectual property protection should be pursued for a particular intellectual asset?

________ include marketing plans, product formulas, financial forecasts, employee rosters, logs of sales calls, and laboratory notebooks.

The 1976 Copyright Revision Act governs copyright law in the United States.

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Feasibility Analysis

Writing a Business Plan

Industry and Competitor Analysis

Developing an Effective Business Model

Preparing the Proper Ethical and Legal Foundation

Assessing a New Ventures Financial Strength and Viability

Building a New Venture Team

Getting Financing or Funding

Unique Marketing Issues

Preparing for and Evaluating the Challenges of Growth

Strategies for Firm Growth

Franchising

Filters