Exam 12: The Importance of Intellectual Property

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

Pictorial, graphic, and sculptural works can be protected via copyrights.

Since the first patent was granted in 1790, the USPTO has granted 8.7 million patents.

Trade secret disputes arise most frequently when one firm alleges that a trade secret claimed by another firm is common knowledge, and can therefore be used by anyone.

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

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 ________.

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

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

Identify and briefly describe the three types of patents.

Dell for computers, Modcloth for vintage and vintage-inspired women's clothing, and Proactiv for acne medication are examples of ________.

While stealing trade secrets is widely considered to be unethical, it is not a criminal offense.

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

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

An ________ 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.

Amazon.com's one-click ordering system and Priceline.com's "name-your-price" business model are examples of ________ patents.

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

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 ________.

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

Copyright law is governed by the ________.