Question 1

In the context of protecting intellectual property, briefly discuss the advantages and disadvantages of trade secrets.

Accepted Answer

The answer of In the context of protecting intellectual property,...

Question 2

In the context of protecting intellectual property, a _____ is any information that provides a business with a competitive advantage but isn't shared openly.

Accepted Answer

A trade secret is information that provides a business with a competitive advantage and is not disclosed to the public, unlike patents, permits, or business plans which do not inherently imply secrecy.

Question 3

In the context of the various modes that businesses use to keep their intellectual property safe, which of the following is most likely to be granted a copyright?

Accepted Answer

Copyright is typically granted to original works of authorship, such as songs, which are considered creative expressions.

Question 4

Leminco Corp. has launched a specialized health drink for diet-conscious people. It wants to keep the formula of the drink a trade secret. Which of the following statements is true in this scenario?

Accepted Answer

Trade secrets require no formal registration or disclosure to any authority, thus avoiding filing costs. The key is in maintaining the secrecy of the information.

Question 5

After an overseas research and development (R&D) location is selected, the next step is to select the right site leader. If you had to choose between a local who is unlikely to understand the company's culture but understands the country's culture and a person from the home country who understands the company's culture but not the local culture, whom would you choose as the site leader? Give reasons to support your answer.

Accepted Answer

The answer of After an overseas research and development (R&D)...

Question 6

In the context of protecting intellectual property, which of the following is a disadvantage of having a trade secret for a tangible product?

Accepted Answer

Trade secrets do not require disclosure to any authority, unlike patents, and they do not have filing costs or formal time limitations. However, they are vulnerable because if the product is available in the market, competitors can legally purchase and reverse engineer it to discover the secret.

Question 7

Jason is an artist who has over two decades of experience creating wonderful sculptures. He has obtained several copyrights for his sculptural masterpieces. In this context, which of the following statements is true of a copyright?

Accepted Answer

Copyright protection in many jurisdictions, including the United States, automatically extends for the life of the author plus an additional 70 years after the author's death, ensuring that the creator's works are protected for a significant period.

Question 8

TrendyEyez, a leading eyewear manufacturer, sued GetDefined Inc. for illegally featuring the company logo of TrendyEyez on its website. In this scenario, TrendyEyez and GetDefined Inc. are said to be involved in a:

Accepted Answer

Trademark litigation is the correct term because it involves the unauthorized use of a company's logo, which is a trademark issue. Trademarks protect symbols, names, and logos that distinguish goods and services.

Question 9

Renu, who runs a drama academy, has conceptualized and created a drama sequence based on historical facts. The creation of this epic drama is unique and nothing close to what people have witnessed before. In this scenario, Renu's drama is eligible for a _____.

Accepted Answer

Renu's drama sequence, being a unique creative work based on historical facts, is eligible for copyright protection. Copyright law protects original works of authorship, including literary, dramatic, musical, and certain other intellectual works. This protection allows the creator to control how their work is used and to receive compensation for that use.

Question 10

In the context of protecting intellectual property, briefly discuss the advantages and disadvantages of patents.

Accepted Answer

The answer of In the context of protecting intellectual property,...

Question 11

In the context of protecting intellectual property, which of the following is a difference between patents and trade secrets?

Accepted Answer

Trade secrets do not require disclosure of information to the public, unlike patents, which require detailed public disclosure of the invention to obtain protection.

Question 12

MedForum Labs has invented a new composition to cure chronic arthritis. In the context of protecting intellectual property, the formula used by MedForum to make the composition can be protected as a _____.

Accepted Answer

The formula used by MedForum to make the composition can be protected as a trade secret, which is a type of intellectual property that encompasses formulas, practices, processes, designs, instruments, patterns, or compilations of information that are not generally known or reasonably ascertainable, and by which a business can obtain an economic advantage over competitors or customers.

Question 13

In the context of protecting intellectual property, identify a difference between patents and trade secrets.

Accepted Answer

Trade secrets have no time limit, meaning they can theoretically last indefinitely as long as the information remains secret, unlike patents which have a finite duration (typically 20 years from the filing date for utility patents).

Question 14

Kyra has been baking and supplying cookies under the brand name Kyra worldwide for almost 20 years. She wants to keep her cookie recipe a trade secret. Which of the following statements is true in this scenario?

Accepted Answer

Trade secrets do not require disclosure to be protected, unlike patents. The owner must simply take reasonable steps to keep the information secret.

Question 15

Suppose you are a technical lead in a company. You are approached by a team of small researchers who want your design team to work out a solution for one of their technical issues. You know that working out a solution would require you and your team to go beyond the usual workflow of the company. In the context of the innovator's imperative, briefly explain how you would go beyond the usual company workflow pattern in order to drive innovation.

Accepted Answer

The answer of Suppose you are a technical lead in...

Question 16

In the context of legal protection of a recognizable brand name, design, or logo, the tagline "Fly to higher limits" used by Dquaine Airlines along with a logo of its country's map is referred to as a _____.

Accepted Answer

A service mark is a type of trademark used to identify and distinguish the services (rather than products) of one provider from those of others. In this case, "Fly to higher limits" and the logo used by Dquaine Airlines to represent its airline services are examples of service marks.

Question 17

In the context of protecting intellectual property, which of the following statements is true of trade secrets?

Accepted Answer

Trade secrets are not officially recognized, and therefore, there is no official filing process or associated costs.

Question 18

Companies have begun to spread their innovation efforts across multiple markets, including many emerging markets. Briefly explain the problems associated with having regional centers of innovation.

Accepted Answer

The answer of Companies have begun to spread their innovation...

Question 19

Snaine Fashions has launched its new collection of designer bags. It uses its registered logo at the front of all its branded bags. The brand logo is attractive and symbolizes the class that the brand name carries. The logo also helps customers quickly recognize and associate the bags with its maker. In this scenario, the logo being used by Snaine Fashions is a _____.

Accepted Answer

The logo used by Snaine Fashions functions as a trademark because it is a recognizable sign, design, or expression which identifies products or services of a particular source from those of others, and it is used to signify the brand's identity and quality.

Question 20

Is market-creating innovation riskier for companies than performance-improving innovation and efficiency-enhancing innovation? Give reasons to support your answer.

Accepted Answer

The answer of Is market-creating innovation riskier for companies than...

Quiz 12: Global Innovation and Intellectual Property