4th test chapter 9

When a trademark becomes the name of a general group of products or services, the trademark protection may be lost because of a. abandonment. b. cancellation proceedings. c. cleaning-out procedure. d. generic meaning.

generic meaning.

Which of the following are not trademarks? a. symbols b. mottos c. names d. generic words

generic words

Copyrights can be placed on all of the following except a. ideas. b. lectures. c. books. d. music.

ideas

Items that can qualify for patent protection include all of the following except a. machines. b. products. c. processes. d. ideas.

ideas.

Anyone who violates an author's exclusive rights under a copyright is liable for: a. a prison term. b. infringement. c. a monetary payment equal to proven damages. d. two times annual sales.

infringement.

Specific forms of partnership include which of the following? a. limited partnerships b. limited partnerships and limited liability partnerships c. limited partnerships and S partnerships d. S partnerships and limited liability companies

limited partnerships and limited liability partnerships

Which is not one of the major sections of the bankruptcy act? a. straight bankruptcy b. reorganization c. adjustments of debts d. liquidation

liquidation

A patent gives the holder a temporary a. profit. b. oligopoly. c. monopoly. d. specification.

monopoly

A trademark is a distinctive _____ that is identified with a company's product. a. name b. billboard c. TV ad d. storefront sign

name

The registration of a trademark has a lifetime of a. 20 years plus 5-year renewable periods. b. 25 years. c. 10 years plus 10-year renewable periods. d. the lifetime of the owner.

10 years plus 10-year renewable periods.

Design patent protection lasts for _____ years. a. 10 b. 12 c. 14 d. 20

14

Patents that are not design patents have _____ years of protection. a. l5 b. 20 c. 22 d. 25

20

How does death affect the duration of a corporation? 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 corporation is unaffected by the death of a shareholder.

When considering bankruptcy, entrepreneurs as sole proprietors normally prefer a. Chapter 5. b. Chapter 7. c. Chapter 11. d. Chapter 13.

Chapter 13.

From where does an S corporation take its name? corporation takes its name from a. Subchapter S of the Internal Revenue Code b. state law c. S Lab d. Uniform Commercial Code

Subchapter S of the Internal Revenue Code

A typical symptom of impending bankruptcy failure is when 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.

other firms seem to be selling products that are a generation ahead.

All of the following are recognized as advantages of partnerships except: a. ease of formation b. possible tax advantages c. direct rewards d. lack of continuity

possible tax advantages

If an entrepreneur concludes that an innovation will withstand any legal challenge, a patent should be a. dropped. b. pursued. c. integrated. d. obfuscated

pursued

The text of a patent application is known as the a. specification. b. particulars. c. concept. d. value.

specification

For the author of creative material to obtain a copyright, the material must be in _____ form. a. nontangible b. technical c. tangible d. commercial

tangible

The specification section of a patent application should include all of the following except a. an introduction. b. examples and/or experimental results. c. a summary of invention. d. a budget for handling infringement.

a budget for handling infringement.

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

the Patent and Trademark Office of the Department of Commerce.

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

cancellation proceeding

That part of a patent application which identifies the features that are protected are known as the a. particular. b. claim. c. identification. d. essence.

claim

That part of a patent application which identifies the features that are protected are known as the a. specification. b. illustration. c. claim. d. concept.

claim

The two parts to a patent application are specification, and . a. claims b. percentage c. value d. perception

claims

In the context of trademark invalidation, if a party seeks to prove that a trademark has not been used within six years of registration, it is known as a. abandonment. b. cancellation proceedings. c. cleaning-out procedure. d. generic meaning.

cleaning-out procedure.

B corporations' legal structure expands corporate accountability to encompass all of the following except: a. lower legal accountability standards b. comprehensive and transparent environmental standards c. comprehensive and transparent social performance standards d. good for society

comprehensive and transparent environmental standards

Legal protection is granted to computer programs in what form? a. patent b. trademark c. copyright d. service mark

copyright

The emerging body of law governing cyberspace is often referred to as: a. netlaw. b. cyberlaw. c. interlaw. d. legal web.

cyberlaw.

The owner of a copyright may do all of the following except a. reproduce the work. b. deduct the intrinsic value of the rights from one's taxes c. perform the work publicly. d. display the work publicly.

deduct the intrinsic value of the rights from one's taxes

Because of the _____ doctrine, it is sometimes difficult to establish infringement. a. fair use b. acquisition c. freedom of information d. right to publish

fair use

To effectively pursue a patent violation, experts recommend that the entrepreneur a. handle all matters personally. b. prepare a realistic budget for infringement. c. fill out a preprinted form obtained from a patent office. d. sue as quickly as possible.

prepare a realistic budget for infringement.

Which of the following are suggestions to minimize legal costs? a. visit the lawyer during normal hours of operation b. have the lawyer custom design forms specifically for you c. always handle matters personally d. try to avoid hiring a lawyer if and until an emergency requires it

visit the lawyer during normal hours of operation

Which of the following falls under Chapter 7 bankruptcy? a. The debtor surrenders most property to a court trustee. b. The debtor fails to file income taxes. c. The debtor is relieved of obligations. d. The debtor is arrested.

The debtor is relieved of obligations.

An infringement budget deals with a. legal battles. b. government bribes. c. the outside molding of a building. d. advertising expenditures.

legal battles.

Which of the following is a useful rule used to avoid pitfalls in selecting a trademark? a. Trust a lawyer's judgment. b. Copy a competitor's trademark. c. Avoid abbreviations and acronyms. d. Never choose a trademark without first conducting a trademark search.

Never choose a trademark without first conducting a trademark search.

Works created after January 1, 1978, have a copyright for the life of the author plus a. 70 years. b. 50 years. c. 14 years. d. 10 months.

70 years.

Who defined the corporation as "an artificial being, invisible, intangible, and existing only in contemplation of the law." a. Karl Marx b. Justice John Marshall c. Henry Ford d. Thomas Jefferson

Justice John Marshall

Which of the following is not a trademark? a. a sales price b. a logo c. a symbol d. a name

a sales price

What percentage of issued patents is considered commercially valuable? a. a very small percentage b. a very large percentage c. about a third d. about half

a very small percentage

According to the U.S. Patent Office, the process of obtaining a patent takes how many months? a. about 24 months b. about 36 months c. about 48 months d. about 60 months

about 24 months

Copyrights may be expressed in a. books. b. periodicals. c. motion pictures. d. all of the above.

all of the above.

All of the following are ways of invalidating a trademark except a. cleaning-out proceedings. b. clearing-out proceedings. c. abandonment. d. generic meaning.

clearing-out proceedings.

There are two parts to a patent application, claims and . a. percentage b. specification c. value d. integration

specification

The determination of fair use of copyrighted material is based on a. the effect of use on potential market. b. the time period involved. c. specific legal guidelines set forth by OSHA. d. the GAD doctrine.

the effect of use on potential market.

The process of trademark registration is a. expensive. b. impossible. c. one that must be handled by a lawyer. d. inexpensive.

expensive.

A person who loses an infringement battle in court may have to pay a. extra legal fees. b. damages of up to five times the actual amount. c. higher profits due to the infringement. d. the taxpayers back.

extra legal fees.

Which of the following is an indicator that an entrepreneur's business is failing? a. other firms selling advanced products b. retailer overstocked c. liquidation d. R&D budget proportionally less than competition

liquidation

Of the following statements, which is true of sole proprietorships? 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 sole proprietorship is a business that is owned and operated by one person.