Exam 3: Organizing and Financing a New Venture

"Certification marks" cover memberships in groups (e.g. ,a sorority or a labor union).

An S corporation provides unlimited liability for its shareholders.

Which of the following are intellectual property rights that allow firms to differentiate their products and services through the use of unique marks which allow consumers to easily identify the source and quality of the products and services?

Which of the following are intellectual property rights to writings in written and electronically stored forms?

An employment contract is an agreement between an employer and employee about the terms and conditions of employment including the employee's agreement to keep confidential information secret and to assign ideas and inventions to the employer.

In a corporate legal entity,the personal assets of the owners are separate from the business' assets,but the personal liabilities of the owners are not.

Based on 2009 tax schedules,the first dollar of personal taxable income is taxed at which of the following marginal tax rates:

Which of the following forms of protecting intellectual property had its protection limit increased from 17 to 20 years?

In which form of business organization are the owners not offered the protection of limited liability?

Which of the following are not sources of seed and start-up financing?

"Certification marks" are intellectual property rights in the form of inventions and information (e.g. ,formulas,processes,customer lists,etc. )not generally known to others.

Nondisclosure agreements prohibit the creator of an idea or other form of intellectual property from sharing it with others once it has been presented the first time.

A copyright must be registered with the U.S.Copyright Office in order for a work to be protected.

There are four kinds of patents.

Patents are intellectual property rights granted for inventions that are:

Following is a partial 2009 corporate income tax schedule: -The dollar amount of income taxes paid by a corporation with taxable income of $50,000 would be:

"Patents" are intellectual property rights granted for inventions that are useful,novel,and obvious.

Following is a partial 2009 corporate income tax schedule: -The cumulative dollar amount of income taxes paid by a corporation with taxable income of $75,000 would be:

Limited liability companies (LLCs)are owned by shareholders with limited liability and its earnings are taxed at the corporate rate.

"Design patents" cover most inventions pertaining to new products,services,and processes.