Question 1

Which of the following is true about the intellectual property aspects of social media?

Accepted Answer

A)  The Communications Decency Act penalizes online service providers for the information that originated with third persons. 
B)  Federal Trade Commission guidelines require that people endorsing a product or service must disclose their affiliation with the producer or service provider. 
C)  Federal Trade Commission prohibits companies from engaging in widespread monitoring of social media content to head off budding complaints or criticisms. 
D)  Company employees who conceal their affiliation online and tout their company's products cannot be held liable for unfair and deceptive advertising. 
A)  The Communications Decency Act penalizes online service providers for the information that originated with third persons. 
B)  Federal Trade Commission guidelines require that people endorsing a product or service must disclose their affiliation with the producer or service provider. 
C)  Federal Trade Commission prohibits companies from engaging in widespread monitoring of social media content to head off budding complaints or criticisms. 
D)  Company employees who conceal their affiliation online and tout their company's products cannot be held liable for unfair and deceptive advertising. B

Question 2

Which of the following statements is true of the principle of first in time equals first in right regarding trademark rights in the United States?

Accepted Answer

A)  It is enough to have invented the mark first. 
B)  It is enough to have registered the mark first. 
C)  It is based on the priority of its use in any other country. 
D)  It is bound by the territoriality principle. 
A)  It is enough to have invented the mark first. 
B)  It is enough to have registered the mark first. 
C)  It is based on the priority of its use in any other country. 
D)  It is bound by the territoriality principle. D

Question 3

How can a plaintiff recover for trademark infringement?

Accepted Answer

In order to recover for trademark infringement,a plaintiff must generally show that (1)it possesses the trademark; (2)the defendant used the mark in commerce; (3)the defendant's use of the mark was in connection with a sale,distribution,or advertising of goods and services; and (4)the defendant's use of the trademark is likely to confuse customers.

Question 4

The direct copyright infringement theory of recovery has been used effectively against suppliers of peer-to-peer file sharing software that has been used to download DVDs from the Internet.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following statements is true about patent infringement in the U.S.?

Accepted Answer

A)  The court holds only the infringer accountable for the unlawful activities and accomplices are not considered liable under the U.S. infringement law. 
B)  There is no effect on the importation of foreign goods that infringe upon U.S. patent rights. 
C)  A patent holder is entitled to monetary damages in case of infringements. 
D)  The court grants an automatic injunction in cases of infringement. 
A)  The court holds only the infringer accountable for the unlawful activities and accomplices are not considered liable under the U.S. infringement law. 
B)  There is no effect on the importation of foreign goods that infringe upon U.S. patent rights. 
C)  A patent holder is entitled to monetary damages in case of infringements. 
D)  The court grants an automatic injunction in cases of infringement.

Question 6

An individual may freely use the trade secret of another if:

Accepted Answer

A)  he discovers it through reverse engineering. 
B)  he acquires it from a third party who trespassed on it. 
C)  he obtains it by improper means and the secret is not patented. 
D)  he acquires it by breaching the duty of confidentiality regarding the secret. 
A)  he discovers it through reverse engineering. 
B)  he acquires it from a third party who trespassed on it. 
C)  he obtains it by improper means and the secret is not patented. 
D)  he acquires it by breaching the duty of confidentiality regarding the secret.

Question 7

A distinctive word,name,symbol,or device used by a business to distinguish its goods from those of its competitors is called a _____.

Accepted Answer

A)  service name 
B)  service mark 
C)  trade name 
D)  trademark 
A)  service name 
B)  service mark 
C)  trade name 
D)  trademark

Question 8

Briefly explain the extraterritorial reach of the U.S.patent law.

Accepted Answer

According to the U.S.law,infringement do

Question 9

If a term is _____,courts treat it as distinctive and automatically qualify it for trademark protection.

Accepted Answer

A)  generic 
B)  descriptive 
C)  arbitrary 
D)  nonspecific 
A)  generic 
B)  descriptive 
C)  arbitrary 
D)  nonspecific

Question 10

The _____ copyright infringement theory of recovery has been used effectively against several suppliers of peer-to-peer file sharing software that has been used to download CDs and DVDs from the Internet.

Accepted Answer

A)  contributory 
B)  vicarious 
C)  direct 
D)  indirect 
A)  contributory 
B)  vicarious 
C)  direct 
D)  indirect

Question 11

The person who owns the intellectual property is known as the licensee.

Accepted Answer

A) True 
 B)False

Question 12

If a licensor does not closely monitor the activities of a licensee,it runs the risk that the licensee will produce inferior products or provide inferior service.

Accepted Answer

A) True 
 B)False

Question 13

A trade secret is also called _____.

Accepted Answer

A)  performance standard 
B)  contributory copyright 
C)  compilation of information 
D)  propriety information 
A)  performance standard 
B)  contributory copyright 
C)  compilation of information 
D)  propriety information

Question 14

A patent generally is effective for 10 years from the date of filing.

Accepted Answer

A) True 
 B)False

Question 15

A(n)_____ prohibits the unauthorized reproduction of creative works.

Accepted Answer

A)  inventor's certificate 
B)  patent 
C)  logo 
D)  copyright 
A)  inventor's certificate 
B)  patent 
C)  logo 
D)  copyright

Question 16

Which of the following is a drawback of technology licensing?

Accepted Answer

A)  The licensee can sever the licensing relationship and become a competitor after gaining access to the licensor's technology. 
B)  The licensee runs the constant risk that the licensor will provide inferior service. 
C)  Licensing maximizes the physical and financial presence of a business overseas, thereby exposing it to risks. 
D)  Licensing escalates the risks of suffering devastating losses in the event of an expropriation. 
A)  The licensee can sever the licensing relationship and become a competitor after gaining access to the licensor's technology. 
B)  The licensee runs the constant risk that the licensor will provide inferior service. 
C)  Licensing maximizes the physical and financial presence of a business overseas, thereby exposing it to risks. 
D)  Licensing escalates the risks of suffering devastating losses in the event of an expropriation.

Question 17

Which of the following is true about the nature of licensing?

Accepted Answer

A)  The person who owns the intellectual property is known as the licensee. 
B)  Sometimes the licensee is permitted to sublicense all or part of its rights in the technology to a sublicensee. 
C)  As a general rule, persons who buy from patent holders or their licensees are restricted by the original licensing contract. 
D)  A customer who has bought a patented product cannot freely resell it without fear of violating the original patent. 
A)  The person who owns the intellectual property is known as the licensee. 
B)  Sometimes the licensee is permitted to sublicense all or part of its rights in the technology to a sublicensee. 
C)  As a general rule, persons who buy from patent holders or their licensees are restricted by the original licensing contract. 
D)  A customer who has bought a patented product cannot freely resell it without fear of violating the original patent.

Question 18

A patent:

Accepted Answer

A)  grants its owner the exclusive right to make, use, or sell an invention or process for an indefinite period. 
B)  deprives competitors of the opportunity to use the invention without the patent holder's consent. 
C)  creates a permanent monopoly thereby discouraging the creation and utilization of new products and technologies. 
D)  includes articles or processes falling under the category of physical phenomena or abstract ideas. 
A)  grants its owner the exclusive right to make, use, or sell an invention or process for an indefinite period. 
B)  deprives competitors of the opportunity to use the invention without the patent holder's consent. 
C)  creates a permanent monopoly thereby discouraging the creation and utilization of new products and technologies. 
D)  includes articles or processes falling under the category of physical phenomena or abstract ideas.

Question 19

Which of the following statements is true about a trade secret?

Accepted Answer

A)  A trade secret usually receives legal protection even if its owner did not take reasonable precautions to keep it a secret. 
B)  A trade secret generally does not include devices and compilations of information. 
C)  A business may attempt to maintain a trade secret when it has a process or product that is not novel enough to receive patent protection. 
D)  A business may attempt to maintain a trade secret, but its misappropriation is not considered a breach of law. 
A)  A trade secret usually receives legal protection even if its owner did not take reasonable precautions to keep it a secret. 
B)  A trade secret generally does not include devices and compilations of information. 
C)  A business may attempt to maintain a trade secret when it has a process or product that is not novel enough to receive patent protection. 
D)  A business may attempt to maintain a trade secret, but its misappropriation is not considered a breach of law.

Question 20

An American university professor derives a new formula which explains a fundamental principle of nature.In the United States,this formula:

Accepted Answer

A)  can be patented. 
B)  cannot be patented. 
C)  can be patented because it is novel. 
D)  cannot be patented because it is not useful. 
A)  can be patented. 
B)  cannot be patented. 
C)  can be patented because it is novel. 
D)  cannot be patented because it is not useful.

Exam 8: Licensing and Intellectual Propertypart Two Contracts

Which of the following is true about the intellectual property aspects of social media?

Which of the following statements is true of the principle of first in time equals first in right regarding trademark rights in the United States?

How can a plaintiff recover for trademark infringement?

The direct copyright infringement theory of recovery has been used effectively against suppliers of peer-to-peer file sharing software that has been used to download DVDs from the Internet.

Which of the following statements is true about patent infringement in the U.S.?

An individual may freely use the trade secret of another if:

A distinctive word,name,symbol,or device used by a business to distinguish its goods from those of its competitors is called a _____.

Briefly explain the extraterritorial reach of the U.S.patent law.

If a term is _____,courts treat it as distinctive and automatically qualify it for trademark protection.

The _____ copyright infringement theory of recovery has been used effectively against several suppliers of peer-to-peer file sharing software that has been used to download CDs and DVDs from the Internet.

The person who owns the intellectual property is known as the licensee.

If a licensor does not closely monitor the activities of a licensee,it runs the risk that the licensee will produce inferior products or provide inferior service.

A trade secret is also called _____.

A patent generally is effective for 10 years from the date of filing.

A(n)_____ prohibits the unauthorized reproduction of creative works.

Which of the following is a drawback of technology licensing?

Which of the following is true about the nature of licensing?

A patent:

Which of the following statements is true about a trade secret?

An American university professor derives a new formula which explains a fundamental principle of nature.In the United States,this formula:

Law, Legal Reasoning, and the Legal Profession

Dispute Settlement

Business Ethics and Corporate Social Responsibility

Business and the Constitution

Crimes

Intentional Torts

Negligence and Strict Liability

The Nature and Origins of Contracts

Creating a Contract: Offers

Creating a Contract: Acceptances

Consideration

Capacity to Contract

Voluntary Consent

Illegality

The Form and Meaning of Contracts

Third Parties Contract Rights

Performance and Remediespart Three Sales

Formation and Terms of Sales Contracts

Warranties and Product Liability

Performance of Sales Contracts

Remedies for Breach of Sales Contractspart Four Agency and Employment

The Agency Relationship-Creation, duties, and Termination

Liability of Principals and Agents to Third Parties

Employment Laws-Part Five Business Organizations

Which Form of Business Organization

Partnerships

Formation and Termination of Corporations

Management of the Corporate Business

Financing the Corporation and the Role of the Shareholders

Securities Regulation

Legal Liability of Accountantspart Six Property

Personal Property and Bailments

Real Property

Landlord and Tenant

Estates and Trusts

Insurance-Part Seven Commercial Paper

Negotiable Instruments

Negotiation and Holder in Due Course

Liability of Parties

Checks and Electronic Fund Transfers-Part Eight Credit Transactions

Introduction to Security

Security Interests in Personal Property

Bankruptcy-Part Nine Government Regulation

The Antitrust Laws

Consumer Protection Laws

Environmental Regulation

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