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

A provisional patent application can be used to establish the date of conception of the invention.

Accepted Answer

A) True 
 B)False

Question 3

The courts consider oral agreements under $500 binding if:

Accepted Answer

A) the agreement is for less than one year. 
B) the parties have previously done business together. 
C) the transaction is for services rendered. 
D) the new venture is incorporateD. 
A) the agreement is for less than one year. 
B) the parties have previously done business together. 
C) the transaction is for services rendered. 
D) the new venture is incorporateD.

Question 4

When resources are limited,the entrepreneur can offer a lawyer stock in exchange for legal services.

Accepted Answer

A) True 
 B)False

Question 5

To apply for a trademark:

Accepted Answer

A) intent to use the mark is required. 
B) the mark must actually have been used on goods. 
C) the mark must be copyrighted. 
D) the mark must have been used on goods that are already tradeD. 
A) intent to use the mark is required. 
B) the mark must actually have been used on goods. 
C) the mark must be copyrighted. 
D) the mark must have been used on goods that are already tradeD.

Question 6

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

Question 7

List the four requirements of filing for a trademark.

Accepted Answer

Filing of the trademark regist

Question 8

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 9

Life insurance for employees is a required benefit under federal law.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

It takes approximately ______ to obtain a trademark.

Accepted Answer

A) 12 months 
B) 13 months 
C) 14 months 
D) 18 months 
A) 12 months 
B) 13 months 
C) 14 months 
D) 18 months

Question 12

Licensing requires the licensee to pay a royalty to the licensor.

Accepted Answer

A) True 
 B)False

Question 13

The ________ is filed to establish a date of conception of an invention and replaces what used to be known as a disclosure document.

Accepted Answer

A) provisional patent 
B) defensive document 
C) trademark 
D) copyright 
A) provisional patent 
B) defensive document 
C) trademark 
D) copyright

Question 14

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 15

One benefit of having a registered trademark is that it establishes the right to deposit registration with customs to prevent importation of goods with a similar mark.

Accepted Answer

A) True 
 B)False

Question 16

Authors or publishers of software are protected under:

Accepted Answer

A) copyrights. 
B) trademarks. 
C) utility patents. 
D) trade secrets. 
A) copyrights. 
B) trademarks. 
C) utility patents. 
D) trade secrets.

Question 17

A trademark is given a 50-year registration with no renewal.

Accepted Answer

A) True 
 B)False

Question 18

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 19

Licensing agreements generate revenue while minimizing risk and start-up investment costs.

Accepted Answer

A) True 
 B)False

Question 20

A patent attorney hired as a specialist to help the entrepreneur obtain a patent would most likely be hire on a:

Accepted Answer

A) retainer fee 
B) success fee 
C) out-of-pocket reimbursement 
D) one-time fee 
A) retainer fee 
B) success fee 
C) out-of-pocket reimbursement 
D) one-time fee

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

A provisional patent application can be used to establish the date of conception of the invention.

The courts consider oral agreements under $500 binding if:

When resources are limited,the entrepreneur can offer a lawyer stock in exchange for legal services.

To apply for a trademark:

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.

List the four requirements of filing for a trademark.

Copyrights can protect all of the following except:

Life insurance for employees is a required benefit under federal law.

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

It takes approximately ______ to obtain a trademark.

Licensing requires the licensee to pay a royalty to the licensor.

The ________ is filed to establish a date of conception of an invention and replaces what used to be known as a disclosure document.

What type of insurance would cover fire or burglary damage?

One benefit of having a registered trademark is that it establishes the right to deposit registration with customs to prevent importation of goods with a similar mark.

Authors or publishers of software are protected under:

A trademark is given a 50-year registration with no renewal.

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

Licensing agreements generate revenue while minimizing risk and start-up investment costs.

A patent attorney hired as a specialist to help the entrepreneur obtain a patent would most likely be hire on a:

Entrepreneurship and the Entrepreneurial Mind-Set

Entrepreneurial Intentions and Corporate Entrepreneurship

Entrepreneurial Strategy: 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: Intellectual Property and Other Legal Issues for the Entrepreneur

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

A provisional patent application can be used to establish the date of conception of the invention.

The courts consider oral agreements under $500 binding if:

When resources are limited,the entrepreneur can offer a lawyer stock in exchange for legal services.

To apply for a trademark:

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.

List the four requirements of filing for a trademark.

Copyrights can protect all of the following except:

Life insurance for employees is a required benefit under federal law.

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

It takes approximately ______ to obtain a trademark.

Licensing requires the licensee to pay a royalty to the licensor.

The ________ is filed to establish a date of conception of an invention and replaces what used to be known as a disclosure document.

What type of insurance would cover fire or burglary damage?

One benefit of having a registered trademark is that it establishes the right to deposit registration with customs to prevent importation of goods with a similar mark.

Authors or publishers of software are protected under:

A trademark is given a 50-year registration with no renewal.

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

Licensing agreements generate revenue while minimizing risk and start-up investment costs.

A patent attorney hired as a specialist to help the entrepreneur obtain a patent would most likely be hire on a:

Entrepreneurship and the Entrepreneurial Mind-Set

Entrepreneurial Intentions and Corporate Entrepreneurship

Entrepreneurial Strategy: 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