Deck 11: Intellectual Property

Question 1

What is intellectual property?

A) Valuable intangible property owned by person's or companies
B) Enterprise cloud services (ex. Amazon Web Services)
C) Temporary rentals of office space
D) Internal records of employees

Answer 1

Valuable intangible property owned by person's or companies

Question 2

In general, it is easier to protect intellectual property more than physical property.

Answer 2

False

Question 3

The formula for Coke is considered a ________.

A) monopoly
B) production insight
C) trade secret
D) production process

Answer 3

trade secret

Question 4

If an engineer leaves Lyft to work at Uber, she could be in violation of what contract?

A) NDA
B) NCC
C) CA
D) CDA

Question 5

In general, how long does a patent last from the date of filing?

A) 5 years
B) 10 years
C) 15 years
D) 20 years

Question 6

Apple's page-turning animation that occurs on an iPad when flipping through an e-book is an example of a business method patent.

Question 7

Patents are territorial, which means inventors must apply for a patent again in new countries.

Question 8

What industry typically has the strongest intellectual property positions?

A) Technology
B) Pharmaceutical
C) Agriculture
D) Energy

Question 9

What is not something entrepreneurs should consider when filing a patent?

A) Whether a competitor could come up with an alternative
B) The ability to defend the patent in court
C) Taking other forms of protection like trade secrets
D) Building out a legal division for the startup

Question 10

What is a trademark?

A) Distinctive word, name, or shape that identifies a company
B) A form of design patent
C) A form of utility patent
D) Embargo on certain imports

Question 11

A registered trademark can be renewed indefinitely.

Question 12

Of the following, what has lost its trademark because it has become a common name?

A) Google
B) Coca-Cola
C) Xerox
D) Aspirin

Question 13

Why did Jeff Bezos choose to name his company Amazon?

A) It conveyed the idea of a huge entity that was not limited to one product
B) To form a positive connotation with the rainforest
C) Because of his passion for animals
D) He thought of the idea for the company while trekking in the rainforest

Question 14

The company Slack stands for 'Searchable List of All Contacts and Knowledge.'

Question 15

It is easier to obtain a copyright than a trademark or a patent, but a copyright is also more limited in scope.

Question 16

A ________ is a grant to another firm to make use of the rights to intellectual property.

A) royalty
B) patent
C) permit
D) license

Question 17

Why is it most beneficial for a company to license out its product?

A) Valuable market penetration
B) Increase in valuation
C) Increased user testing
D) Infringement protection

Question 18

If an entrepreneur invents something in a university lab space and brings it to market, it is often the universities that own the intellectual property.

Question 19

Of the following, what does a university typically not get in exchange for granting a license?

A) Annual fee
B) Percentage of product revenue
C) Equity
D) Board seat

Question 20

What was the topic of the historic lawsuit Apple won in 1982?

A) Copyright related to software embedded in chips
B) Operating system trademarks
C) Typography trade secrets
D) Design patent infringement