Entrepreneurship Final Chapter 9
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
