Question 1

Copyright infringement occurs when one work derives from another or is an exact copy.

Accepted Answer

A) True 
 B)False

Question 2

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.

Accepted Answer

A) True 
 B)False

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:

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

Which of the following isn't an example of intellectual property?

Accepted Answer

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

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

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:

Accepted Answer

A)  trademark 
B)  copyright 
C)  idea secret 
D)  innovation 
E)  patent 
A)  trademark 
B)  copyright 
C)  idea secret 
D)  innovation 
E)  patent

Question 7

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 8

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; and 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 9

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

Accepted Answer

A)  copyright infringement 
B)  utility patent violations 
C)  trademark violations 
D)  design patent violations 
E)  the theft of trade secrets 
A)  copyright infringement 
B)  utility patent violations 
C)  trademark violations 
D)  design patent violations 
E)  the theft of trade secrets

Question 10

The term of a utility patent is:

Accepted Answer

A)  7 years from the date the patent is granted 
B)  15 years from the date of the initial application 
C)  15 years from the date the patent is granted 
D)  20 years from the date of the initial application 
E)  20 years from the date the patent is granted 
A)  7 years from the date the patent is granted 
B)  15 years from the date of the initial application 
C)  15 years from the date the patent is granted 
D)  20 years from the date of the initial application 
E)  20 years from the date the patent is granted

Question 11

Computer software is not covered by copyright law.

Accepted Answer

A) True 
 B)False

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

Which of the following is not one of the four key forms of intellectual property protection?

Accepted Answer

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

Question 14

There are two primary reasons to conduct an intellectual property audit. First, it is prudent for a company to periodically determine whether its intellectual property is being properly protected. The second reason for a company to conduct an intellectual property audit is to:

Accepted Answer

A)  remained prepared for a Security & Exchange Commission spot inspection 
B)  remain prepared to justify its value in the event of a merger or acquisition 
C)  remain prepared for an initial public offering 
D)  update the value of its intellectual property on its balance sheet 
E)  make sure no intellectual property has been stolen 
A)  remained prepared for a Security & Exchange Commission spot inspection 
B)  remain prepared to justify its value in the event of a merger or acquisition 
C)  remain prepared for an initial public offering 
D)  update the value of its intellectual property on its balance sheet 
E)  make sure no intellectual property has been stolen

Question 15

Copyright law is governed by the:

Accepted Answer

A)  U.S. Constitution 
B)  The 1946 Intellectual Property Act 
C)  The 1966 Trademark and Copyright Act 
D)  The 1955 Inventors and Writer's Protection Act 
E)  Copyright Revision Act of 1976 
A)  U.S. Constitution 
B)  The 1946 Intellectual Property Act 
C)  The 1966 Trademark and Copyright Act 
D)  The 1955 Inventors and Writer's Protection Act 
E)  Copyright Revision Act of 1976

Question 16

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

Accepted Answer

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

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

Since the first patent was granted, there have been over ________ patents granted in the United States.

Accepted Answer

A)  500,000 
B)  3 million 
C)  5 million 
D)  7 million 
E)  9 million 
A)  500,000 
B)  3 million 
C)  5 million 
D)  7 million 
E)  9 million

Question 19

________ 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 violation. 
A)  Copyright infringement 
B)  Copyright violation 
C)  Copyright intrusion 
D)  Copyright breach 
E)  Copyright violation.

Question 20

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 relational to prior arts in the field 
B)  based on cutting edge science or technology, not obvious to a person of ordinary skill in the filed, 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 relational to prior arts in the field 
B)  based on cutting edge science or technology, not obvious to a person of ordinary skill in the filed, 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

Copyright infringement occurs when one work derives from another or is an exact copy.

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.

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:

Which of the following isn't an example of intellectual property?

Copyright law protects any work of authorship:

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:

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

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

The term of a utility patent is:

Computer software is not covered by copyright law.

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

Which of the following is not one of the four key forms of intellectual property protection?

There are two primary reasons to conduct an intellectual property audit. First, it is prudent for a company to periodically determine whether its intellectual property is being properly protected. The second reason for a company to conduct an intellectual property audit is to:

Copyright law is governed by the:

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

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

Since the first patent was granted, there have been over ________ patents granted in the United States.

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

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

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 Venture's 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

Copyright infringement occurs when one work derives from another or is an exact copy.

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.

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:

Which of the following isn't an example of intellectual property?

Copyright law protects any work of authorship:

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:

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

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

The term of a utility patent is:

Computer software is not covered by copyright law.

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

Which of the following is not one of the four key forms of intellectual property protection?

There are two primary reasons to conduct an intellectual property audit. First, it is prudent for a company to periodically determine whether its intellectual property is being properly protected. The second reason for a company to conduct an intellectual property audit is to:

Copyright law is governed by the:

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

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

Since the first patent was granted, there have been over ________ patents granted in the United States.

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

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

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 Venture's 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