Deck 10: Legal and Regulatory Challenges

Question 1

Which of the following are part of the six rules of patent strategy?

A)Create an IP-protective environment to minimise the risk of losing your IP
B)Offer a strong position and prepare a patent plan in detail
C)Establish an infringement budget and evaluate the patent plan strategically
D)All of these choices

Answer 1

D

Question 2

What is open innovation?

A)Innovation that turns to sources of ideas and support outside of an organisation, openly sharing the trials and rewards of innovation as opposed to protecting it
B)Any innovation that staff and employees develop openly within the organisation
C)A new term for opening a broad range of creative ideas
D)Innovation started by the manager and opened by the employees

Answer 2

A

Question 3

What is meant by 'incorporation' when talking about business structure?

A)The certificate of registration for any type of business
B)A corporation that has not been registered
C)The birth of a company,where it is given legal form
D)A sole trader or a partnership

Answer 3

C

Question 4

Trademarks are:

A)generic names,marks,symbols or mottos identified with a company's products
B)distinctive names,marks,symbols or mottos identified with a company's products
C)any unregistered company name,trademark,symbol or motto
D)All of these choices

Question 5

What is environmental protection?

A)The practice by individuals,organisations and/or governments of protecting the natural environment from harm and preserving it for the benefit of current and future human generations
B)The practice of organisations to protect animals
C)The practice of governments to protect the economic environment
D)The practice required of all people to look after the land

Question 6

Which of the following are common types of businesses?

A)Trading trust,cooperative society,charitable trust and franchises
B)Trading societies,cooperative trusts,charitable trusts and franchisee
C)Franchise trusts,personal trusts,family trusts and cooperative trusts
D)Trading,cooperative,charitable and franchisee trusts

Question 7

What is intellectual property (IP)?

A)Proprietary knowledge created through mind and intellect that is a valuable asset to the business
B)Stealing ideas for the business
C)Knowledge,skills and attitudes only business employees have
D)Using four intellectual thoughts in the business

Question 8

Investor protection is:

A)the guarantee that investors will make money
B)the guarantee that investments will break even
C)the guarantee that investments made will not be lost due to misuse of corporate assets by directors for their personal gain
D)the guarantee that investments will not be lost due to the misuse of corporate assets by the family business owner

Question 9

Which of the following are common forms of a business?

A)Sole trader ship
B)Partnership
C)Non-profit
D)All of these choices

Question 10

As a form of protection,a non-disclosure agreement is:

A)an agreement between parties that the information specified by the agreement will be disclosed to others
B)an agreement between parties that the information specified by the agreement will not be disclosed to others,keeping it confidential
C)an agreement between employees that the information specified in a meeting will be disclosed only to close family
D)an agreement between ad agencies that the information specified will not be discussed

Question 11

According to Shepherd,how is business failure defined?

A)When a fall in revenues and/or rise in expenses are of such magnitude that the firm becomes insolvent
B)When a business revenue increases
C)When a firm has a rise in revenue and expenses
D)All of these choices

Question 12

Intellectual property rights are:

A)legal advice provided by intellectual property
B)legal aspects of intellectual thought
C)legal fines for ideas,patents,trademarks or copyrights
D)legal protection of intellectual property,such as patents,trademarks or copyrights,against infringement by others

Question 13

Which of the following are trade secrets?

A)Customer lists,plans,research and development
B)Pricing information,marketing techniques and production techniques
C)Anything kept secret that makes an individual company unique and has value to its competitor
D)All of these choices

Question 14

A patent is:

A)an intellectual property right granted to an inventor,giving him or her exclusive rights to make,use or sell an invention for a limited time,usually 20 years
B)an intellectual property right granted to a franchisee to make copies of an innovation
C)an intellectual property right granted to the government to make sure all patents are held in government hands
D)intellectual property rights granted to all people in a country

Question 15

A relatively cheaper and simpler form of intellectual property protection is known as:

A)design registration
B)designer's registration
C)designing and ideation registration
D)designer ideas registration

Question 16

Which of the following provide international protections for intellectual property?

A)The World Trade Organization
B)The Berne Convention
C)The Patent Cooperation Treaty (PCT)
D)All of these choices

Question 17

The WTO's TRIP agreement states that:

A)the international standard for the duration of patent exclusivity is 20 years from the date of filing
B)the Australian standard set by the WTO for copyrights and patents applies to all nations
C)the Asia-Pacific standard set by the WTO for copyrights and patents applies to all nations
D)the international standard for the duration of a patent is 100 years from the date of filing

Question 18

Under the WTO's TRIP copyright laws,copyright extends beyond the death of the author to varying degrees depending upon:

A)the law of the country it was created in,but typically lasts for 50-70 years after death
B)the author's last wishes,but typically lasts for 20-30 years after death
C)the Bible,but typically lasts for 5-7 years after death
D)the law of the country it was created in,but typically lasts for 500 years after death

Question 19

What are property laws?

A)Laws passed by governments that govern the ownership and rights of various forms of tangible and intangible property
B)Rules and policies by organisations that state how ownership of various forms of intangible and tangible property works
C)Laws passed by international NGOs that govern the rights and various allowances for property
D)Rental rights for any property in the world

Question 20

What does a domain name include?

A)the last part of a URL
B)the organisation's unique name
C)the organisational form such as .com or .org
D)All of these choices