Exam 12: The Importance 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:

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.

Which of the following is an example of intellectual property?

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:

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

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

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.

The average time for the approval of a patent is 16 months.

A trademark is renewable:

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

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

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

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

There are four types of trademarks:

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

Identify and briefly describe the three types of patents.

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

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.

The Savvy Entrepreneurial Firm feature in Chapter 12 focuses on a copyright infringement case involving the owners of work originally produced by Elvis Presley and Passport Video, a company that produced a video documentary of Elvis' life. Passport Video, which did not get permission to use songs, interviews and other material produced by Elvis and used in the documentary, claimed they did not need formal approval because the documentary on Elvis' life was scholarly research and should therefore be protected under the ________ exemption to copyright law.

Ecovative Design, the company profiled in the opening feature for Chapter 12, makes an organic building insulation from mushrooms. Ecovative Design received a big boost in late 2008 when it won the coveted Picnic Green Challenge Prize in Amsterdam, Holland. In U.S. dollars, the prize was approximately: