Exam 12: The Importance of Intellectual Property

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

A utility patent can be obtained for a new product or process or the "idea" for a new product or process.

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 in question is directly related to its competitive advantage. Second, a firm should determine if its intellectual property:

A company's customer list is most commonly protected under ________ regulations.

A trademark is a word, name, symbol, or device used to identify the source or origin of products or services and to distinguish those products or services from others.

Apple for computers, Zeo for sleep aids, and Proactiv for acne medication are examples of:

The federal Economic Espionage Act, passed in 1996, criminalizes:

A trademark consisting primarily of a surname, such as Jones or Smith, is typically not protectable.

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.

Certification marks 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.

________ 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.

If a local band wrote their own rendition of a Celine Dion song, the band could try to copyright their rendition of the song as a(n):

Copyright law is governed by the:

The main exclusion from copyright laws is that copyright laws cannot protect:

A trade secret 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 federal Economic Espionage Act, passed in 1996, criminalizes the theft of trade secrets.

A grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for a specific period of time is referred to as a(n):

Intellectual property is any product of human intellect that is intangible but has value in the marketplace.

Identify and briefly describe the three types of patents.

A copyright is 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.