Exam 12: The Importance of Intellectual Property

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

Computer software is not covered by copyright law.

The term of a utility patent is ________ years from the date of the ________.

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

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

The Savvy Entrepreneurial Firm feature in Chapter 12 focused on provisional patent applications. The main point of the feature is to illustrate that filing a provisional patent application effectively takes ________.

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) ________.

The main exclusion from copyright laws is that copyright laws cannot protect ________.

The first patent, which was granted for a process of making potash, an ingredient in fertilizer, was signed by ________.

A utility patent is good for ________ years from the date of the original application, a design patent is good for ________ years from the date the patent is granted, and a plant patent is good for ________ years from the date of the original application.

Which of the following statements about copyrights is incorrect?

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

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.

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

A trademark is registered with the ________.

What is a trademark? Why are trademarks important?

________ marks 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.

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(n) ________.

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

If a local band wrote their own rendition of a Katy Perry song, the band could try to copyright their rendition of the song as a(n) ________ work.