Question 1

Which of the following is an example of intellectual property?

Accepted Answer

A)  DripCatch's cash reserves 
B)  The computer that you use 
C)  Nike's swoosh logo 
D)  United's fleet of planes 
E)  Google's headquarters in Mountain View, California 
A)  DripCatch's cash reserves 
B)  The computer that you use 
C)  Nike's swoosh logo 
D)  United's fleet of planes 
E)  Google's headquarters in Mountain View, California

Question 2

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 employee 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 employee 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 3

Combinations of numbers and letters, such as 3M and 1-800-CONTACTS, can be trademarked.

Accepted Answer

A) True 
 B)False

Question 4

The four types of trademarks are ________.

Accepted Answer

A)  trademarks, service marks, collective marks, and certification marks 
B)  examination marks, trademarks, combined marks, and service marks 
C)  shared marks, collective marks, mutual marks, and trademarks 
D)  service marks, cooperative marks, trademarks, and shared marks 
E)  trademarks, collective marks, documentation marks, and combined marks 
A)  trademarks, service marks, collective marks, and certification marks 
B)  examination marks, trademarks, combined marks, and service marks 
C)  shared marks, collective marks, mutual marks, and trademarks 
D)  service marks, cooperative marks, trademarks, and shared marks 
E)  trademarks, collective marks, documentation marks, and combined marks

Question 5

The opening feature focuses on DripCatch, a company that makes a device that catches water that drips off of glassware when it comes out of the dishwasher. The central form of intellectual property that DripCatch is hoping to benefit from is a(n) ________.

Accepted Answer

A)  patent 
B)  Internet domain name 
C)  license 
D)  trademark 
E)  copyright 
A)  patent 
B)  Internet domain name 
C)  license 
D)  trademark 
E)  copyright

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

________ 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.

Accepted Answer

A)  Creative 
B)  Intangible 
C)  Examination 
D)  Service 
E)  Subtle 
A)  Creative 
B)  Intangible 
C)  Examination 
D)  Service 
E)  Subtle

Question 8

The What Went Wrong? feature in Chapter 12 focuses on a dispute between GoldieBlox, a toy company, and the Beastie Boys, a musical group. The dispute centered on GoldieBlox's use of a Beastie Boys song in a commercial without the Beastie Boy's permission. To justify their actions, GoldieBlox argued that their use of the song was justified based on the legal principle of ________ use.

Accepted Answer

A)  fair 
B)  trivial 
C)  limited 
D)  inconsequential 
E)  non-restricted 
A)  fair 
B)  trivial 
C)  limited 
D)  inconsequential 
E)  non-restricted

Question 9

What is a copyright? What is protected by a copyright?

Accepted Answer

A copyright is a form of intellectual pr

Question 10

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

Accepted Answer

A)  526,000 
B)  2.3 million 
C)  4.6 million 
D)  8.7 million 
E)  12.2 million 
A)  526,000 
B)  2.3 million 
C)  4.6 million 
D)  8.7 million 
E)  12.2 million

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

A ________ 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)  patent 
B)  copyright 
C)  trademark 
D)  trade secret 
E)  certification mark 
A)  patent 
B)  copyright 
C)  trademark 
D)  trade secret 
E)  certification mark

Question 13

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.

Accepted Answer

A) True 
 B)False

Question 14

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? 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 15

Which of the following symbols is the copyright bug?

Accepted Answer

Which of the following is an example of intellectual property?

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

Combinations of numbers and letters, such as 3M and 1-800-CONTACTS, can be trademarked.

The four types of trademarks are ________.

The opening feature focuses on DripCatch, a company that makes a device that catches water that drips off of glassware when it comes out of the dishwasher. The central form of intellectual property that DripCatch is hoping to benefit from is a(n) ________.

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

________ 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.

What is a copyright? What is protected by a copyright?

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

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

A ________ 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.

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.

Which of the following symbols is the copyright bug?

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Feasibility Analysis

Developing an Effective Business Model

Industry and Competitor Analysis

Writing a Business Plan

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

Which of the following is an example of intellectual property?

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

Combinations of numbers and letters, such as 3M and 1-800-CONTACTS, can be trademarked.

The four types of trademarks are ________.

The opening feature focuses on DripCatch, a company that makes a device that catches water that drips off of glassware when it comes out of the dishwasher. The central form of intellectual property that DripCatch is hoping to benefit from is a(n) ________.

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

________ 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.

What is a copyright? What is protected by a copyright?

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

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

A ________ 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.

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.

Which of the following symbols is the copyright bug?

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Feasibility Analysis

Developing an Effective Business Model

Industry and Competitor Analysis

Writing a Business Plan

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