Deck 7: Protecting the Startups Assets

Question 1

In the United States, a trademark

A) cannot be registered until it is actually in use .
B) can be sold to potential users .
C) can easily be registered .
D) has a short life .
E) must be renewed every 10 years .

Answer 1

A

Question 2

Which of the following forms of intellectual property (IP) offers the highest degree of protection?

A) Patents
B) Copyrights
C) Contracts
D) Trade secrets
E) Trademarks

Answer 2

A

Question 3

To qualify for _____, the work must be in a fixed and tangible form-that is, one must be able to see or hear it.

A) federal copyright protection
B) intellectual property protection
C) trade secret protection
D) injunctive relief
E) earned income credit

Answer 3

A

Question 4

Patent rights granted to an individual in the United States extend only within the borders of the United States; they have no effect in any foreign country.

Question 5

Every business, no matter how small, has intellectual property (IP) rights associated with it.

Question 6

A user manual and a customer list are examples of intellectual property (IP).

Question 7

A company's logo can be a trademark.

Question 8

Which of the following prohibits the falsification, alteration, or removal of copyright management data on digital copies, making it a crime to circumvent an encrypted work without authorization?

A) The Copyright Extension Act of 1998
B) The United States P atent and Trademark Office (USPTO)
C) The  Digital Millennium Copyright Act (DMCA)
D) The Trademark Dilution Revision Act
E) The Doctrine of Fair Use

Question 9

Which of the following statements regarding the three categories of knowledge is true?

A) Intellectual capital is essentially tacit knowledge .
B) Intellectual capital consists of explicit knowledge .
C) Intellectual assets are the most common form of knowledge .
D) Intellectual capital is the highest form of protection and the most valuable .
E) Intellectual assets carry exclusive rights that offer remedies through the courts for the protection of intangible assets.

Question 10

A _____ consists of a formula, device, idea, process, pattern, or compilation of information that gives the owner a competitive advantage in the marketplace, is novel in the sense that it is not common knowledge, and is kept in a reasonably confidential state.

A) copyright
B) patent
C) trade secret
D) property right
E) trademark

Question 11

A patent gives the patent holder the right to defend the patent against others who would attempt to manufacture, use, or sell the invention during the period of the patent, which for most patents is 20 years from the date of application.

Question 12

Which of the following protect original works of authors, composers, screenwriters, and computer programmers?

A) Trademarks
B) Copyrights
C) Trade secrets
D) Patents
E) All of these are correct.

Question 13

Intellectual property (IP) rights are a group of legal rights associated with patents, trademarks, copyrights, and trade secrets.

Question 14

The doctrine of infringement protects inventors from infringers who would violate a patent by making small, insignificant changes in the claims.

Question 15

Intellectual property (IP) is different from personal property in that it cannot be bought, sold, donated, licensed, or exchanged for something of equal value.

Question 16

Which of the following is the most common reason that trademarks are denied?

A) The mark is immoral or deceptive.
B) The mark uses a person's name or likeness without permission.
C) The mark is deceptively misdescriptive.
D) The mark is likely to create confusion with an existing trademark in the marketplace.
E) None of these are correct.

Question 17

Which of the following statements about trade secrets is NOT true?

A) The only way to protect trade secrets is through confidentiality agreements or contracts.
B) Trade secrets are protected under patent and trademark law.
C) There is no statute of limitations for filing claims against someone for violating your trade secrets .
D) A trade secret must be filed on the United States Patent and Trademark Office's (USPTO's) website .
E) All of these are correct.

Question 18

Which of the following marks would be eligible to become trademarks or service marks?

A) Marks that are immoral
B) Marks that are deceptive
C) Marks that  use official symbols of the state where the applicant resides
D) Marks that use a person's name or likeness without permission
E) None of these are correct.

Question 19

Businesses create a lot of knowledge for their owners and that knowledge has no intrinsic value.

Question 20

There are no legal means under patent and trademark law to protect trade secrets.

Question 21

The _____ protects inventors from infringers who would violate a patent by making small, insignificant changes in the claims.

A) doctrine of  ultra vires
B) America Invents Act
C) D octrine of Fair Use
D) doctrine of equivalents
E) doctrine of  precedent

Question 22

Marcus has adopted "iFix it fast." as the slogan for his electronics repair shop. This slogan is Marcus's

A) patent.
B) economic life.
C) trademark.
D) copyright.
E) trade secret.

Question 23

The three major categories of patents are design patents, plant patents, and _____ patents.

A) utility
B) prior art
C) obvious invention
D) natural substance
E) brand

Question 24

The First Sale Doctrine grants a copyright owner all of the following rights EXCEPT

A) r eproduction.
B) p reparation of original works.
C) p ublic performance.
D) d istribution.
E) p ublic display.

Question 25

The most striking difference between intellectual property (IP) and other types of physical property is that

A) physical property is a right under the law.
B) physical property can be sold.
C) IP cannot be defended against infringement.
D) IP is easily transferrable.
E) IP is intangible.

Question 26

Section 107 of the _____ asserts that reproduction of a copyrighted work is "fair" when it is done for purposes such as criticism, comment, news reporting, teaching, scholarship, and research.

A) Copyright Protection Act
B) Doctrine of Fair Use
C) Digital Millennium Copyright Act (DMCA)
D) Copyright Extension Act of 1998
E) First Sale Doctrine

Question 27

A c opyright protects

A) a  concept.
B) an  idea.
C) a  thought process.
D) t he form in which an idea is displayed.
E) All of these are correct.

Question 28

Most patent applications will be published _____ after the filing date of the application.

A) six months
B) one year
C) two years
D) 18 months
E) four years

Question 29

Which of the following is NOT eligible for a patent?

A) A machine
B) A business method
C) A naturally occurring substance
D) An improvement on a machine
E) A food additive

Question 30

A _____ patent application permits inventors to use the term patent pending .

A) nonprovisional
B) provisional
C) formal
D) utility
E) plant

Question 31

_____  patents are the most common type of patent.

A) Utility
B) Biological
C) Design
D) Business method
E) Plant

Question 32

To search for an existing trademark online, one would navigate to the _____ at the _____ site.

A) Trademark Electronic Search System (TESS); trademark.gov
B) Database of Trademarks (DOT); US.gov
C) Trademark Electronic Search System (TESS); USPTO.gov
D) Trademark Electronic Registration System (TERS); whitehouse.gov
E) Trademark Electronic Registration System (TERS); trademark.gov

Question 33

Which of the following is NOT a class into which an invention must fit?

A) A machine or something with moving parts or circuitry
B) A design of a machine or something with moving parts or circuitry
C) A process or method for producing a useful and tangible result
D) An article of manufacture
E) A composition of matter

Question 34

In the context of patent protection, _____ is knowledge that is publicly available or was published prior to the date of the invention-that is, before the filing of the patent application.

A) previous criterion
B) prior art
C) copyright
D) intellectual property (IP)
E) infringement

Question 35

Under the Copyright Extension Act of 1998, a copyright lasts for the life of the copyright holder plus _____ years.

A) 50
B) 60
C) 70
D) 80
E) 100

Question 36

In general, _____ are the most time sensitive of all forms of intellectual property (IP).

A) patents
B) contracts
C) trade secrets
D) copyrights
E) trademarks

Question 37

The primary means of protecting an original invention is a

A) p atent.
B) c opyright.
C) t rademark.
D) t rade secret.
E) nondisclosure agreement.

Question 38

During the second step of the patent process, the United States Patent and Trademark Office (USPTO)

A) conducts a search of its patent records for prior art.
B) issues a notice of allowance.
C) accepts or denies the application claim.
D) requires fees to be paid.
E) issues a provisional patent contingent upon no existence of prior art.

Question 39

_____ of patent rights occurs when someone other than the inventor (patent holder) or licensee makes and sells a product that contains every one of the elements of a claim.

A) Infringement
B) Dilution
C) Counterfeiting
D) Misappropriation
E) Reproduction

Question 40

A design patent

A) protects new, original ornamental designs for manufactured articles.
B) protects only the appearance of an article.
C) does not protect an article's structure or utilitarian features.
D) is valid for 14 years from the date of issuance.
E) All of these are correct.

Question 41

Briefly discuss patent infringement.

Question 42

Briefly describe the three major categories of patents.

Question 43

What are the provisions of the Digital Millennium Copyright Act (DMCA)?

Question 44

Briefly discuss prior art and its effect on a patent application.

Question 45

Briefly discuss intellectual property rights.

Question 46

Briefly discuss the three patent strategies a business might use to coordinate its intellectual property strategy with its business strategy.

Question 47

When would it not make sense for an entrepreneur to patent his or her new invention?

Question 48

What are the three things that a basic copyright notice should include?

Question 49

Suppose you successfully prosecute someone who has misappropriated your trade secrets. What remedies are you entitled to?

Question 50

Suppose you want to open a bookstore with the name Dominic's. However, a sandwich shop in a neighboring town already exists. Would you be able to trademark your company's name? Why or why not?