Question 1

The three major parts of a patent application are the introduction,description and warranty sections.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following statements concerning trademarks is not true

Accepted Answer

A)  A trademark may be a word, slogan, symbol, design or particular sound. 
B)  Unlike a patent, trademarks last indefinitely. 
C)  It is possible to file for a trademark if you intend to use this mark in the future. 
D)  The PTO is responsible for the federal registration of trademarks. 
A)  A trademark may be a word, slogan, symbol, design or particular sound. 
B)  Unlike a patent, trademarks last indefinitely. 
C)  It is possible to file for a trademark if you intend to use this mark in the future. 
D)  The PTO is responsible for the federal registration of trademarks.

Question 3

Licensing can be a way to start a new venture when the idea may infringe on someone else's patent,trademark,or copyright.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is not one of the four requirements needed when filing a trademark registration

Accepted Answer

A)  A drawing of the mark 
B)  A claims section 
C)  Five specimens showing actual use of the mark 
D)  A completed registration form and appropriate fee 
A)  A drawing of the mark 
B)  A claims section 
C)  Five specimens showing actual use of the mark 
D)  A completed registration form and appropriate fee

Question 5

Trade secrets are protected:

Accepted Answer

A)  by the General Agreement on Tariffs and Trade. 
B)  by federal law. 
C)  by state law. 
D)  by the Library of Congress. 
A)  by the General Agreement on Tariffs and Trade. 
B)  by federal law. 
C)  by state law. 
D)  by the Library of Congress.

Question 6

What type of insurance would cover fire or burglary damage

Accepted Answer

A)  Property 
B)  Bonding 
C)  Life 
D)  Workers' Compensation 
A)  Property 
B)  Bonding 
C)  Life 
D)  Workers' Compensation

Question 7

A trademark is a distinguishing word,name,or symbol used to identify a product.

Accepted Answer

A) True 
 B)False

Question 8

The claims section of a patent application is probably the most difficult section of the application to prepare since this area sets the criteria by which any infringements will be determined.

Accepted Answer

A) True 
 B)False

Question 9

Define a trade secret and briefly discuss a noncompetition agreement.

Accepted Answer

Trade secret means protection against ot

Question 10

Copyrights can protect all of the following except:

Accepted Answer

A)  music. 
B)  molded plastic parts. 
C)  sculptures. 
D)  models. 
A)  music. 
B)  molded plastic parts. 
C)  sculptures. 
D)  models.

Question 11

Which of the following is a contract that grants the owner protection,based on the appearance of an object

Accepted Answer

A)  Utility patent 
B)  Design patent 
C)  Plant patent 
D)  Disclosure document 
A)  Utility patent 
B)  Design patent 
C)  Plant patent 
D)  Disclosure document

Question 12

To file for trademark protection only intent to use is necessary.

Accepted Answer

A) True 
 B)False

Question 13

Identify and describe the three different types of patents.

Accepted Answer

Utility patent-Most popular type,20-year

Question 14

Copyright law does not apply to music,especially when downloaded from the Internet.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is not part of intellectual property

Accepted Answer

A)  Trademarks 
B)  Copyrights 
C)  Trade secrets 
D)  Insurance 
A)  Trademarks 
B)  Copyrights 
C)  Trade secrets 
D)  Insurance

Question 16

Which government office is responsible for the federal registration of trademarks

Accepted Answer

A)  U.S. Trademark Services 
B)  Local Chambers of Commerce 
C)  Patent and Trademark Office 
D)  Internal Revenue Service 
A)  U.S. Trademark Services 
B)  Local Chambers of Commerce 
C)  Patent and Trademark Office 
D)  Internal Revenue Service

Question 17

Which of the following is true regarding the Sarbanes-Oxley Act

Accepted Answer

A)  It only applies to companies that make over $10 million in gross revenue. 
B)  Private companies are not included in this act. 
C)  The act does not cover fraud via TV or radio. 
D)  The act only covers a narrow range of corporate governance activity. 
A)  It only applies to companies that make over $10 million in gross revenue. 
B)  Private companies are not included in this act. 
C)  The act does not cover fraud via TV or radio. 
D)  The act only covers a narrow range of corporate governance activity.

Question 18

Which of the following statements concerning the Sarbanes-Oxley Act is not true

Accepted Answer

A)  The Act requires CEOs to vouch for financial statements. 
B)  The Act provides that any attempt to influence the internal auditing process is considered a criminal act. 
C)  The Act applies to both private and public companies. 
D)  The Act requires independent audit committees which may conflict with some foreign countries' rules and customs. 
A)  The Act requires CEOs to vouch for financial statements. 
B)  The Act provides that any attempt to influence the internal auditing process is considered a criminal act. 
C)  The Act applies to both private and public companies. 
D)  The Act requires independent audit committees which may conflict with some foreign countries' rules and customs.

Question 19

To prevent others from copying his or her ideas,the entrepreneur should not send drawings with the patent application.

Accepted Answer

A) True 
 B)False

Question 20

A lawyer may work on a retainer basis by which he or she provides office and consulting time,which includes court time and other legal fees related to the action.

Accepted Answer

A) True 
 B)False

The three major parts of a patent application are the introduction,description and warranty sections.

Which of the following statements concerning trademarks is not true

Licensing can be a way to start a new venture when the idea may infringe on someone else's patent,trademark,or copyright.

Which of the following is not one of the four requirements needed when filing a trademark registration

Trade secrets are protected:

What type of insurance would cover fire or burglary damage

A trademark is a distinguishing word,name,or symbol used to identify a product.

The claims section of a patent application is probably the most difficult section of the application to prepare since this area sets the criteria by which any infringements will be determined.

Define a trade secret and briefly discuss a noncompetition agreement.

Copyrights can protect all of the following except:

Which of the following is a contract that grants the owner protection,based on the appearance of an object

To file for trademark protection only intent to use is necessary.

Identify and describe the three different types of patents.

Copyright law does not apply to music,especially when downloaded from the Internet.

Which of the following is not part of intellectual property

Which government office is responsible for the federal registration of trademarks

Which of the following is true regarding the Sarbanes-Oxley Act

Which of the following statements concerning the Sarbanes-Oxley Act is not true

To prevent others from copying his or her ideas,the entrepreneur should not send drawings with the patent application.

A lawyer may work on a retainer basis by which he or she provides office and consulting time,which includes court time and other legal fees related to the action.

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Generating and Exploiting New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters

Exam 6: Protecting the Idea and Other Legal Issues for the Entrepreneur

The three major parts of a patent application are the introduction,description and warranty sections.

Which of the following statements concerning trademarks is not true

Licensing can be a way to start a new venture when the idea may infringe on someone else's patent,trademark,or copyright.

Which of the following is not one of the four requirements needed when filing a trademark registration

Trade secrets are protected:

What type of insurance would cover fire or burglary damage

A trademark is a distinguishing word,name,or symbol used to identify a product.

The claims section of a patent application is probably the most difficult section of the application to prepare since this area sets the criteria by which any infringements will be determined.

Define a trade secret and briefly discuss a noncompetition agreement.

Copyrights can protect all of the following except:

Which of the following is a contract that grants the owner protection,based on the appearance of an object

To file for trademark protection only intent to use is necessary.

Identify and describe the three different types of patents.

Copyright law does not apply to music,especially when downloaded from the Internet.

Which of the following is not part of intellectual property

Which government office is responsible for the federal registration of trademarks

Which of the following is true regarding the Sarbanes-Oxley Act

Which of the following statements concerning the Sarbanes-Oxley Act is not true

To prevent others from copying his or her ideas,the entrepreneur should not send drawings with the patent application.

A lawyer may work on a retainer basis by which he or she provides office and consulting time,which includes court time and other legal fees related to the action.

The Entrepreneurial Mind-Set

Corporate Entrepreneurship

Generating and Exploiting New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Organizational Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters