Question 1

Design patents last for 20 years.

Accepted Answer

A) True 
 B)False

Question 2

How does death affect the duration of a corporation?

Accepted Answer

A)  A corporation usually terminates on the death of a founding shareholder. 
B)  A corporation is unaffected by the death of a shareholder. 
C)  A corporation is usually unaffected by the death of a shareholder. 
D)  A corporation is usually unaffected by the death of a shareholder unless a general partner dies. 
A)  A corporation usually terminates on the death of a founding shareholder. 
B)  A corporation is unaffected by the death of a shareholder. 
C)  A corporation is usually unaffected by the death of a shareholder. 
D)  A corporation is usually unaffected by the death of a shareholder unless a general partner dies.

Question 3

Which of the following is a way in which a trademark may be invalidated?

Accepted Answer

A)  cancellation proceeding 
B)  a competitor's lawsuit 
C)  consumer loss of interest 
D)  once a trademark is established, no legal action can invalidate it 
A)  cancellation proceeding 
B)  a competitor's lawsuit 
C)  consumer loss of interest 
D)  once a trademark is established, no legal action can invalidate it

Question 4

A trademark is a distinctive name, mark, or symbol that is identified with a company's product.

Accepted Answer

A) True 
 B)False

Question 5

A typical symptom of impending bankruptcy failure is when

Accepted Answer

A)  new competition exits the market. 
B)  other firms seem to be selling products that are a generation ahead. 
C)  retailers always seem to be understocked. 
D)  the entrepreneur seeks to exit the market. 
A)  new competition exits the market. 
B)  other firms seem to be selling products that are a generation ahead. 
C)  retailers always seem to be understocked. 
D)  the entrepreneur seeks to exit the market.

Question 6

In order to obtain a patent, an application should be filed with

Accepted Answer

A)  the Office of Government Publications. 
B)  the Patent and Trademark Office of the Department of Commerce. 
C)  Government Accounting Office. 
D)  the United States Small Business Association. 
A)  the Office of Government Publications. 
B)  the Patent and Trademark Office of the Department of Commerce. 
C)  Government Accounting Office. 
D)  the United States Small Business Association.

Question 7

What are the rules for avoiding pitfalls in selecting trademarks?

Accepted Answer

Trademarks registration and research is

Question 8

An example of a trademark is a logo.

Accepted Answer

A) True 
 B)False

Question 9

Chapter 13 bankruptcy involves a reorganization of the enterprise.

Accepted Answer

A) True 
 B)False

Question 10

One of the principal advantages of a corporate form of ownership is that liability (the most money a person can lose) is limited to an individual's investment.

Accepted Answer

A) True 
 B)False

Question 11

Identify the three major sections of the Bankruptcy Act.

Accepted Answer

Bankruptcy was designed for three major

Question 12

The Bankruptcy Act was set up in order to provide assistance to both debtors and creditors.

Accepted Answer

A) True 
 B)False

Question 13

The process of trademark registration is

Accepted Answer

A)  expensive. 
B)  impossible. 
C)  one that must be handled by a lawyer. 
D)  inexpensive. 
A)  expensive. 
B)  impossible. 
C)  one that must be handled by a lawyer. 
D)  inexpensive.

Question 14

The text of a patent application is known as the

Accepted Answer

A)  specification. 
B)  particulars. 
C)  concept. 
D)  value. 
A)  specification. 
B)  particulars. 
C)  concept. 
D)  value.

Question 15

A trademark is a distinctive _____ that is identified with a company's product.

Accepted Answer

A)  name 
B)  billboard 
C)  TV ad 
D)  storefront sign 
A)  name 
B)  billboard 
C)  TV ad 
D)  storefront sign

Question 16

Three primary legal forms of organization are the sole proprietorship, the partnership, and the corporation.

Accepted Answer

A) True 
 B)False

Question 17

The two parts of a patent application are specification and claims.

Accepted Answer

A) True 
 B)False

Question 18

Of the following statements, which is True of sole proprietorships?

Accepted Answer

A)  A sole proprietorship is a business that is owned and operated by one person. 
B)  Proprietors have limited liability for the operation. 
C)  Proprietors are taxed as businesses. 
D)  Ordinarily, proprietorships have amounts of capital available to them equal to that available to other types of business organizations. 
A)  A sole proprietorship is a business that is owned and operated by one person. 
B)  Proprietors have limited liability for the operation. 
C)  Proprietors are taxed as businesses. 
D)  Ordinarily, proprietorships have amounts of capital available to them equal to that available to other types of business organizations.

Question 19

Copyrights have to be registered with the Copyright Office.

Accepted Answer

A) True 
 B)False

Question 20

Copyrights may be expressed in

Accepted Answer

A)  books. 
B)  periodicals. 
C)  motion pictures. 
D)  all of the above. 
A)  books. 
B)  periodicals. 
C)  motion pictures. 
D)  all of the above.

Design patents last for 20 years.

How does death affect the duration of a corporation?

Which of the following is a way in which a trademark may be invalidated?

A trademark is a distinctive name, mark, or symbol that is identified with a company's product.

A typical symptom of impending bankruptcy failure is when

In order to obtain a patent, an application should be filed with

What are the rules for avoiding pitfalls in selecting trademarks?

An example of a trademark is a logo.

Chapter 13 bankruptcy involves a reorganization of the enterprise.

One of the principal advantages of a corporate form of ownership is that liability (the most money a person can lose) is limited to an individual's investment.

Identify the three major sections of the Bankruptcy Act.

The Bankruptcy Act was set up in order to provide assistance to both debtors and creditors.

The process of trademark registration is

The text of a patent application is known as the

A trademark is a distinctive _____ that is identified with a company's product.

Three primary legal forms of organization are the sole proprietorship, the partnership, and the corporation.

The two parts of a patent application are specification and claims.

Of the following statements, which is True of sole proprietorships?

Copyrights have to be registered with the Copyright Office.

Copyrights may be expressed in

Entrepreneurship: Evolutionary Development-Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: The Creative Pursuit of Ideas

Assessment of Entrepreneurial Opportunities

Pathways to Entrepreneurial Ventures

Sources of Capital for Entrepreneurs

Marketing Challenges for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting the Entrepreneurial Venture

Filters

Exam 9: Legal Challenges of Entrepreneurial Ventures

Design patents last for 20 years.

How does death affect the duration of a corporation?

Which of the following is a way in which a trademark may be invalidated?

A trademark is a distinctive name, mark, or symbol that is identified with a company's product.

A typical symptom of impending bankruptcy failure is when

In order to obtain a patent, an application should be filed with

What are the rules for avoiding pitfalls in selecting trademarks?

An example of a trademark is a logo.

Chapter 13 bankruptcy involves a reorganization of the enterprise.

One of the principal advantages of a corporate form of ownership is that liability (the most money a person can lose) is limited to an individual's investment.

Identify the three major sections of the Bankruptcy Act.

The Bankruptcy Act was set up in order to provide assistance to both debtors and creditors.

The process of trademark registration is

The text of a patent application is known as the

A trademark is a distinctive _____ that is identified with a company's product.

Three primary legal forms of organization are the sole proprietorship, the partnership, and the corporation.

The two parts of a patent application are specification and claims.

Of the following statements, which is True of sole proprietorships?

Copyrights have to be registered with the Copyright Office.

Copyrights may be expressed in

Entrepreneurship: Evolutionary Development-Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: The Creative Pursuit of Ideas

Assessment of Entrepreneurial Opportunities

Pathways to Entrepreneurial Ventures

Sources of Capital for Entrepreneurs

Marketing Challenges for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting the Entrepreneurial Venture

Filters