Entrepreneurship Final Chapter 9

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The registration of a trademark has a lifetime of?

10 years plus 10-year renewable periods

Design patent protection lasts for ___ years?

14 years

Patents that are not design patents have ___ years of protection?

20 years

Works created after Jan. 1,1978, have a copyright for the life of the author plus?

70 years

The speculation section of a patent application should include all of the following...

A budget for handling infringement

Which of the following is NOT a trademark?

A sales price, Generic words

What is true about sole proprietorships?

A sole proprietorship is a business that is owned and operated by 1 person

Which of the following is a useful rule used to avoid pitfalls in selecting a trademark?

Never choose a trademark without first conducting a trademark search

A typical symptom of impending bankruptcy failure is when...

Other firms seem to be selling products that are a generation ahead

Advantages of partnerships EXCEPT...

Possible tax advantages

To effectively pursue a patent violation, experts recommend that the entrepreneur...

Prepare a realistic budget for infringement

If an entrepreneur concludes that an innovation will withstand any legal challenge, a patent should be...

Pursued

The text of a patent application is known as the?

Specification

There are 2 parts to a patent application, claims and?

Specification

For the author of creative material to obtain a copyright, the material must be in ____ form.

Tangible

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

The Patent and Trademark Office of the Department of Commerce

Which falls un chapter 7 bankruptcy?

The debtor is relieved of obligations

The determination of fair use of copyrighted material is based on...

The effect of use on potential market

Which suggestions is to minimize legal costs?

Visit the lawyer during normal hours of operation

Because of the ___ doctrine, its sometimes difficult to establish infringement fair use.

Fair use

Where does S corporation take its name?

From subchapter S of the Internal Revenue Code

When a trademark becomes the name of a general group of products or services, the trademark protection may be lost because of

Generic meaning

Copyrights can be placed on all of the following except?

Ideas

Items that can qualify for patent protection include all of the following EXCEPT?

Ideas

Anyone who violates an author's exclusive rights under a copyright is liable for?

Infringement

Defined the corporation as "an artificial being, invisible, intangible, and existing only in contemplation of the law"

Justice John Marshall

An infringement budget deals with...

Legal battles

Specific forms of partnership include...

Limited partnerships and limited liability partnerships

What is an indicator that an entrepreneur's business is failing?

Liquidation

Which is not one of the major sections of the bankruptcy act?

Liquidation

A patent gives the holder a temporary?

Monopoly

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

Name

What % of issued patents is considered commercially valuable?

A very small %

According to the U.S. Patent Office, the process of obtaining a patent takes how many months?

About 24 months

Copyrights may be expressed in?

Books, periodicals, motion pictures

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

Cancellation proceeding

When considering bankruptcy, entrepreneurs as sole proprietors normally prefer...

Chapter 13

That part of a patent application which identifies the features that are protected are known as the?

Claim

The 2 parts to a patent application are specification, and?

Claims

In the context of trademark invalidation, if a party seeks to prove that a trademark has not been used within 6 years of registration, it is known as?

Cleaning-out procedure

All of the following are ways of invalidating a trademark except?

Clearing-out proceedings

B corporations legal structure expands corporate accountability to encompass all of the following EXCEPT...

Comprehensive and transparent environmental standards

Legal protection is granted to computer programs in what form?

Copyright

How does death affect the duration of a corporation?

Corporation is unaffected by the death of a founding shareholder

The emerging body of law governing cyberspace is often referred to as

Cyberlaw

The owner of a copyright may do all of the following except?

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

The process of trademark registration is?

Expensive

A person who loses an infringement battle in court may have to pay...

Extra legal fees


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