Question 1

According to the textbook, trade secret disputes arise most frequently when:

Accepted Answer

A)  one firm alleges that it can legally use another firm's trade secrets because they were "voluntarily" disclosed 
B)  an employees leaves a firm to join a competitor and is accused of taking confidential information with him or her 
C)  one firm claims that another firm outright stole its trade secrets 
D)  one firms claims that what another firm is claiming as a trade secret is common knowledge 
E)  one firm claims that it obtained another firm's trade secrets through legal means 
A)  one firm alleges that it can legally use another firm's trade secrets because they were "voluntarily" disclosed 
B)  an employees leaves a firm to join a competitor and is accused of taking confidential information with him or her 
C)  one firm claims that another firm outright stole its trade secrets 
D)  one firms claims that what another firm is claiming as a trade secret is common knowledge 
E)  one firm claims that it obtained another firm's trade secrets through legal means

Question 2

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 3

The What Went Wrong feature in Chapter 12 focuses on Dippin' Dots, a company that sells ice cream snacks. Dippin' Dot's 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 4

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," that was eventually licenses to Kraft. According to the feature, entrepreneurs and inventors, like Gary Schwartzberg, are finding that large consumer products companies are:

Accepted Answer

A)  are ambivalent about what they have to offer 
B)  are 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)  are 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)  are ambivalent about what they have to offer 
B)  are 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)  are 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 5

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 6

The 1976 Copyright Revision Act governs copyright law in the U.S.

Accepted Answer

A) True 
 B)False

Question 7

________ 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 8

________ 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 9

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 10

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.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

A patent is a grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for the term of the trademark.

Accepted Answer

A) True 
 B)False

Question 13

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 14

________ 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.

Accepted Answer

A)  Collective marks 
B)  Share marks 
C)  Examination marks 
D)  Joint marks 
E)  Certification marks 
A)  Collective marks 
B)  Share marks 
C)  Examination marks 
D)  Joint marks 
E)  Certification marks

Question 15

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

Accepted Answer

A) True 
 B)False

According to the textbook, trade secret disputes arise most frequently when:

A trademark is registered with the:

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

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

The 1976 Copyright Revision Act governs copyright law in the U.S.

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

________ 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?

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.

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

A patent is a grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for the term of the trademark.

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

________ 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.

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

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

According to the textbook, trade secret disputes arise most frequently when:

A trademark is registered with the:

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

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

The 1976 Copyright Revision Act governs copyright law in the U.S.

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

________ 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?

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.

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

A patent is a grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for the term of the trademark.

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

________ 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.

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

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