Question 1

Which of the following symbols is the copyright bug?

Accepted Answer

A)  ç 
B)  € 
C)  ¢ 
D)  © 
E)  ™ 
A)  ç 
B)  € 
C)  ¢ 
D)  © 
E)  ™

Question 2

What is intellectual property? Why is it called "intellectual" property? Why is intellectual property such an important issue for entrepreneurial firms?

Accepted Answer

Intellectual property is any product of

Question 3

A form of intellectual property protection that grants to the owner of a work of authorship the legal right to determine how the work is used and to obtain the economic benefits from the work is referred to as a(n):

Accepted Answer

A)  assurance document 
B)  patent 
C)  trade secret 
D)  brand 
E)  copyright 
A)  assurance document 
B)  patent 
C)  trade secret 
D)  brand 
E)  copyright

Question 4

A utility patent is good for ________ from the date of the original application, a design patent is good for ________ from the date the patent is granted, and a plant patent is good for ________ from the date of the original application.

Accepted Answer

A)  14 years, 14 years, 20 years 
B)  20 years, 20 years, 14 years 
C)  20 years, 20 years, 20 years 
D)  20 years, 14 years, 20 years 
E)  14 years, 20 years, 14 years 
A)  14 years, 14 years, 20 years 
B)  20 years, 20 years, 14 years 
C)  20 years, 20 years, 20 years 
D)  20 years, 14 years, 20 years 
E)  14 years, 20 years, 14 years

Question 5

Copyright law protects any work of authorship:

Accepted Answer

A)  90 days after it is approved by the U.S. Copyright Office 
B)  one year after it assumes a tangible form 
C)  the moment it assumes a tangible form 
D)  as soon as it is approved by the U.S. Copyright Office 
E)  30 days after it assumes a tangible form 
A)  90 days after it is approved by the U.S. Copyright Office 
B)  one year after it assumes a tangible form 
C)  the moment it assumes a tangible form 
D)  as soon as it is approved by the U.S. Copyright Office 
E)  30 days after it assumes a tangible form

Question 6

What is a trademark? Why are trademarks important?

Accepted Answer

A trademark is any word, name, symbol, o

Question 7

Trademark law falls under the Lanham Act, which passed in 1946.

Accepted Answer

A) True 
 B)False

Question 8

The ________, which was drafted in 1979 by a special commission, attempted to set nationwide standards for trade secret legislation.

Accepted Answer

A)  Intangible Assets Protection Act 
B)  Fairness in Intellectual Property Act 
C)  Uniform Trade Secrets Act 
D)  Trademark & Copyright Act 
E)  Economic Espionage Act 
A)  Intangible Assets Protection Act 
B)  Fairness in Intellectual Property Act 
C)  Uniform Trade Secrets Act 
D)  Trademark & Copyright Act 
E)  Economic Espionage Act

Question 9

The Partnering for Success feature in Chapter 12 starts by talking about Gary Schwartzberg, who, along with a partner, developed a new type of bagel dubbed the "Begeler," which was eventually licensed to Kraft. According to the feature, entrepreneurs and inventors, like Gary Schwartzberg, are finding that large consumer products companies are:

Accepted Answer

A)  ambivalent about what they have to offer 
B)  increasingly interested in what they have to offer for new products, but are ambivalent about services 
C)  increasingly interested in what they have to offer 
D)  increasingly interested in what they have to offer for new services, but are ambivalent about products 
E)  increasingly disinterested in what they have to offer 
A)  ambivalent about what they have to offer 
B)  increasingly interested in what they have to offer for new products, but are ambivalent about services 
C)  increasingly interested in what they have to offer 
D)  increasingly interested in what they have to offer for new services, but are ambivalent about products 
E)  increasingly disinterested in what they have to offer

Question 10

________ occurs when one work derives from another or is an exact copy or shows substantial similarity to the original work.

Accepted Answer

A)  Copyright infringement 
B)  Copyright violation 
C)  Copyright intrusion 
D)  Copyright breach 
E)  Copyright duplication 
A)  Copyright infringement 
B)  Copyright violation 
C)  Copyright intrusion 
D)  Copyright breach 
E)  Copyright duplication

Question 11

Which of the following is not an example of intellectual property?

Accepted Answer

A)  Proactiv's formula for acne medication 
B)  Google's trademark 
C)  the Internet domain name www.nytimes.com 
D)  Microsoft's Windows operating system 
E)  a computer mouse 
A)  Proactiv's formula for acne medication 
B)  Google's trademark 
C)  the Internet domain name www.nytimes.com 
D)  Microsoft's Windows operating system 
E)  a computer mouse

Question 12

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

Accepted Answer

A)  Aesthetic 
B)  Utility 
C)  Visual 
D)  Blueprint 
E)  Design 
A)  Aesthetic 
B)  Utility 
C)  Visual 
D)  Blueprint 
E)  Design

Question 13

There are three basic requirements for a patent to be granted. The subject of the patent application must be:

Accepted Answer

A)  useful, difficult to copy, and novel in relation to prior arts in the field 
B)  based on cutting edge science or technology, not obvious to a person of ordinary skill in the field, and rare 
C)  useful, novel in relation to prior arts in the field, and not obvious to a person of ordinary skill in the field 
D)  rare, difficult to copy, and not obvious to a person of ordinary skill in the field 
E)  useful, scientific, and novel in relation to prior arts in the field 
A)  useful, difficult to copy, and novel in relation to prior arts in the field 
B)  based on cutting edge science or technology, not obvious to a person of ordinary skill in the field, and rare 
C)  useful, novel in relation to prior arts in the field, and not obvious to a person of ordinary skill in the field 
D)  rare, difficult to copy, and not obvious to a person of ordinary skill in the field 
E)  useful, scientific, and novel in relation to prior arts in the field

Question 14

According to current regulations, any copyrightable work created on or after January 1, 1978, is protected by copyright law for the life of the author plus:

Accepted Answer

A)  28.5 years 
B)  101 years 
C)  40 years 
D)  55 years 
E)  70 years 
A)  28.5 years 
B)  101 years 
C)  40 years 
D)  55 years 
E)  70 years

Question 15

________ takes place when one party engages in the unauthorized use of another party's patent.

Accepted Answer

A)  Patent breach 
B)  Patent encroachment 
C)  Patent violation 
D)  Patent infraction 
E)  Patent infringement 
A)  Patent breach 
B)  Patent encroachment 
C)  Patent violation 
D)  Patent infraction 
E)  Patent infringement

Question 16

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

Accepted Answer

A)  financial forecast 
B)  product formula 
C)  a company's tagline 
D)  logs of sales calls 
E)  employee roster 
A)  financial forecast 
B)  product formula 
C)  a company's tagline 
D)  logs of sales calls 
E)  employee roster

Question 17

Which form of intellectual property protection is the only one expressly mentioned in the original articles of the U.S. Constitution?

Accepted Answer

A)  assurances 
B)  patents 
C)  copyrights 
D)  trade secrets 
E)  trademarks 
A)  assurances 
B)  patents 
C)  copyrights 
D)  trade secrets 
E)  trademarks

Question 18

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

Accepted Answer

A)  U.S. Patent and Trademark Office 
B)  Federal Patent, Copyright and Trademark Office 
C)  Securities and Exchange Commission 
D)  U.S. Departments of Patents 
E)  U.S. Treasury Department 
A)  U.S. Patent and Trademark Office 
B)  Federal Patent, Copyright and Trademark Office 
C)  Securities and Exchange Commission 
D)  U.S. Departments of Patents 
E)  U.S. Treasury Department

Question 19

Consider the following questions: Are products under development that 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):

Accepted Answer

A)  intangible material examination 
B)  intellectual property inventory 
C)  intangible material inspection 
D)  patent, trademark, copyright, and trade secret review 
E)  intellectual property audit 
A)  intangible material examination 
B)  intellectual property inventory 
C)  intangible material inspection 
D)  patent, trademark, copyright, and trade secret review 
E)  intellectual property audit

Question 20

Which of the following is an example of a certification mark?

Accepted Answer

A)  ModCloth 
B)  International Franchise Association 
C)  Underwriter's Laboratories 
D)  Rotary International 
E)  1-800-FREE-411 
A)  ModCloth 
B)  International Franchise Association 
C)  Underwriter's Laboratories 
D)  Rotary International 
E)  1-800-FREE-411

Which of the following symbols is the copyright bug?

What is intellectual property? Why is it called "intellectual" property? Why is intellectual property such an important issue for entrepreneurial firms?

A form of intellectual property protection that grants to the owner of a work of authorship the legal right to determine how the work is used and to obtain the economic benefits from the work is referred to as a(n):

A utility patent is good for from the date of the original application, a design patent is good for from the date the patent is granted, and a plant patent is good for from the date of the original application.

Copyright law protects any work of authorship:

What is a trademark? Why are trademarks important?

Trademark law falls under the Lanham Act, which passed in 1946.

The ________, which was drafted in 1979 by a special commission, attempted to set nationwide standards for trade secret legislation.

________ occurs when one work derives from another or is an exact copy or shows substantial similarity to the original work.

Which of the following is not an example of intellectual property?

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

There are three basic requirements for a patent to be granted. The subject of the patent application must be:

According to current regulations, any copyrightable work created on or after January 1, 1978, is protected by copyright law for the life of the author plus:

________ takes place when one party engages in the unauthorized use of another party's patent.

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

Which form of intellectual property protection is the only one expressly mentioned in the original articles of the U.S. Constitution?

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

Which of the following is an example of a certification mark?

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 symbols is the copyright bug?

What is intellectual property? Why is it called "intellectual" property? Why is intellectual property such an important issue for entrepreneurial firms?

A form of intellectual property protection that grants to the owner of a work of authorship the legal right to determine how the work is used and to obtain the economic benefits from the work is referred to as a(n):

A utility patent is good for ________ from the date of the original application, a design patent is good for ________ from the date the patent is granted, and a plant patent is good for ________ from the date of the original application.

Copyright law protects any work of authorship:

What is a trademark? Why are trademarks important?

Trademark law falls under the Lanham Act, which passed in 1946.

The ________, which was drafted in 1979 by a special commission, attempted to set nationwide standards for trade secret legislation.

________ occurs when one work derives from another or is an exact copy or shows substantial similarity to the original work.

Which of the following is not an example of intellectual property?

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

There are three basic requirements for a patent to be granted. The subject of the patent application must be:

According to current regulations, any copyrightable work created on or after January 1, 1978, is protected by copyright law for the life of the author plus:

________ takes place when one party engages in the unauthorized use of another party's patent.

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

Which form of intellectual property protection is the only one expressly mentioned in the original articles of the U.S. Constitution?

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

Which of the following is an example of a certification mark?

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

A utility patent is good for from the date of the original application, a design patent is good for from the date the patent is granted, and a plant patent is good for from the date of the original application.