Set with 200+ Qs

The initial registration for a trademark lasts: A. 10 years. B. 14 years. C. 17 years. D. 20 years.

A. 10 years.

Focus groups use which of the following methods? A. A moderator leads the group in an open, in-depth discussion. B. A moderator asks each individual in the group questions, interview style. C. Each participant fills out a questionnaire, followed by individual exit interviews. D. Each participant obtains new ideas and solutions by focusing on problems.

A. A moderator leads the group in an open, in-depth discussion.

Which of the following creative methods involves having participants write down their ideas several times a day? A. Collective notebook method B. Parameter analysis C. Brainstorming D. Forced relationship

A. Collective notebook method

The _______ created the commission that prescribes safety standards for products. A. Consumer Product Safety Act B. Patent Cooperation Treaty C. Sarbanes-Oxley Act D. U.S. Labor Department

A. Consumer Product Safety Act

Which area of e-commerce experienced the largest increase in sales from 2010-2011? A. Digital content and subscriptions B. Events tickets C. Consumer Electronics D. Jewelry and watches

A. Digital content and subscriptions

Which of the following is not an aspect of nonverbal or hidden language? A. Energy B. Business relationships C. Space D. Time

A. Energy

_____ has the main disadvantages of high transportation costs, trade barriers, and problems with local marketing agents. A. Exporting B. Turn-key projects C. Licensing D. Franchising

A. Exporting

All of the following are questions an opportunity assessment plan might answer except: A. How much capital do I need? B. What market need does it fill? C. What business skills do I have? D. Can a patent be obtained?

A. How much capital do I need?

In what stage would you use the systematic market evaluation checklist? A. Idea stage B. Concept stage C. Product development stage D. Commercialization stage

A. Idea stage

What type of insurance would cover fire or burglary damage? A. Property B. Bonding C. Life D. Workers' Compensation

A. Property

A turn-key project is best defined as: A. a method of doing business whereby a foreign entrepreneur supplies the manufacturing technology or infrastructure for a business and then turns it over to local owners B. giving a foreign manufacturer the right to use a patent in return for the payment of a royalty C. a method in which an entrepreneur contracts his or her management techniques and skills to a (foreign) purchasing company D. a form of direct foreign investment in which the investing entrepreneur holds a minority ownership position in the foreign venture

A. a method of doing business whereby a foreign entrepreneur supplies the manufacturing technology or infrastructure for a business and then turns it over to local owners

Trade secrets can be protected for: A. an unlimited period of time. B. 20 years according to federal law. C. 14 years according to state law. D. 50 years if renewed to the maximum allowed, five 10 year renewable terms.

A. an unlimited period of time.

Probably the most well known and widely used technique for creative problem solving is: A. brainstorming. B. focus groups. C. forced relationships. D. scientific method.

A. brainstorming.

Motivations for going global, discussed in the text, include all the following except: A. cheap shipping costs B. excess production capacity C. technological advantage D. competitive pressures

A. cheap shipping costs

Authors or publishers of software are protected under: A. copyrights. B. trademarks. C. utility patents. D. trade secrets.

A. copyrights.

Parameter analysis consists of two main aspects which are: A. creative synthesis and parameter identification. B. breakthrough innovation and forced association. C. attribute listing and parameter identification. D. parameter variation and verification.

A. creative synthesis and parameter identification.

Continuous innovations are described as: A. having the least disrupting influence on established consumption patterns. B. having some disruptive influence on established consumption patterns. C. having no disruptive influence on established consumption patterns. D. having to establish new consumption patterns due to the creation of a previously unknown product.

A. having the least disrupting influence on established consumption patterns.

Concerns regarding roads, electricity, banking facilities, communication, and educational systems have to do with a country's: A. infrastructure. B. balance of payments. C. political climate. D. economics.

A. infrastructure.

To apply for a trademark: 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.

A _________ is a contract between the government and an inventor. A. patent B. franchise C. trademark D. trade secret

A. patent

The ________ is filed to establish a date of conception of an invention and replaces what used to be known as a disclosure document. A. provisional patent B. defensive document C. trademark D. copyright

A. provisional patent

The courts consider oral agreements under $500 binding if: 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.

It takes approximately ______ to obtain a trademark. A. 12 months B. 13 months C. 14 months D. 18 months

B. 13 months

The entire trademark registration process takes approximately: A. 7 months B. 13 months C. 18 months D. 2 years

B. 13 months

Once accepted, the trademark is published in the Trademark Official Gazette for ____ days to allow any party to oppose or request an extension to oppose the use of the mark. A. 10 B. 30 C. 90 D. 180

B. 30

Which of the companies below were not listed by the book as offering free web hosting? A. Zymic B. Amazon C. 000Webhost D. Webs

B. Amazon

This problem-solving method requires the entrepreneur to list the properties of an item or problem and then look at each from a variety of viewpoints. A. Value analysis B. Attribute listing C. Brainwriting D. Big-dream approach

B. Attribute listing

What term describes the practice of paying for goods indirectly through another source? A. Licensing B. Barter C. Promotion D. Exporting

B. Barter

In what stage would it be most beneficial to use conversational interviews? A. Idea stage B. Concept stage C. Product development stage D. Commercialization stage

B. Concept stage

Which of the following is a contract that grants the owner protection, based on the appearance of an object? A. Utility patent B. Design patent C. Plant patent D. Disclosure document

B. Design patent

Which of the following is defined as having some disruptive influence on established consumption patterns? A. Continuous Innovations B. Dynamically Continuous Innovations C. Discontinuous Innovations D. Breakthrough Innovations

B. Dynamically Continuous Innovations

_____ is not considered a nonequity arrangement. A. Turn-key projects B. Exporting C. Licensing D. Management contracts

B. Exporting

_____________ is the process of an entrepreneur conducting business activities across national borders. A. Intrapreneurship B. International entrepreneurship C. Domestic entrepreneurship D. Direct importing

B. International entrepreneurship

____ and _____ are both government sources of information that might be helpful in gathering the information needed to start a business. A. Mergent and The Industrial monitor B. NAICS and SIC codes C. Business Source Complete and Small Business News D. The Euromonitor and Business Source Complete

B. NAICS and SIC codes

Trends for the next decade include all of the following except: A. Green products B. New age music C. Clean energy D. Health Maintenance

B. New age music

Which among the following political risks is considered the biggest risk of all? A. Transfer risk B. Ownership risk C. Investment risk D. Operating risk

B. Ownership risk

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

B. Private companies are not included in this act.

In this method, instead of generating new ideas themselves, consumers are provided with a list of problems in a general product category. What method is the author referring to here? A. Reverse brainstorming B. Problem inventory analysis C. Brainstorming D. Focus groups

B. Problem inventory analysis

Which of the following statements is not true? A. Religion in a culture defines the ideas for life, reflected in the values and attitudes of individuals and the overall society. B. The tenets of nonreligious or secularist societies do not affect behavior. C. The impact of religion varies depending on the strength of the dominant religious tenets and their impact on the values and attitudes of the culture. D. Religion provides the basis for some degree of transcultural similarity under shared beliefs and attitude.

B. The tenets of nonreligious or secularist societies do not affect behavior.

Which of the following statements is (are) not true? A. A trademark may be a word, slogan, symbol, design or particular sound. B. Unlike a patent, trademark does not last indefinitely. C. It is possible to file for a trademark if you intend to use this mark in the future. D. There are four categories of trademarks.

B. Unlike a patent, trademark does not last indefinitely.

In the ________ method a new idea is developed through a list of related issues or suggestions. A. Gordon B. checklist C. collective notebook D. matrix charting

B. checklist

The _____ patent is granted for a 14-year term. A. utility B. design C. plant D. procedure

B. design

According to the text, the most prevalent reason for mergers is: A. taxation. B. economies of scale. C. currency fluctuations. D. to combine complementary resources.

B. economies of scale.

A _____ is the joining of two firms in order to form a third company in which the equity is shared. A. majority interest B. joint venture C. product extension merger D. minority interest

B. joint venture

Copyrights can protect all of the following except: A. music. B. molded plastic parts. C. sculptures. D. models.

B. molded plastic parts.

The opportunity recognition process contains all of the following except: A. work experience B. reformation C. entrepreneurial alertness D. networks

B. reformation

The largest source of new product ideas is: A. the U.S. Patent Office. B. the entrepreneur's research and development. C. customers. D. the federal government.

B. the entrepreneur's research and development.

E-commerce in the U.S. grew by ____ between 2010 and 2011. A. 10% B. 11% C. 12% D. 13%

C. 12%

Total internet spending was roughly _____ billion in 2011. A. 150 B. 200 C. 250 D. 300

C. 250

This problem-solving method involves developing new ideas by thinking without constraints. A. Value analysis B. Attribute listing C. Big-dream approach D. Brainwriting

C. Big-dream approach

______ provides information on industries such as aerospace, energy, healthcare and defense. A. Mergent B. Plunkett C. Frost and Sullivan D. Business Source Complete

C. Frost and Sullivan

Which of the following statement is (are) true? A. Most countries have laws and court procedures protecting intellectual property such as those in the United States. B. Civil laws tend to be relatively nonspecific. C. Laws of a country regulate the manner in which business transactions are executed. D. Global entrepreneurs cannot specify in the contract that any contract disputes will be heard in the courts of another country.

C. Laws of a country regulate the manner in which business transactions are executed.

Which of the following is not a condition that makes a contract legally enforceable? A. Consideration is given by both parties B. All parties involved are competent C. Money is exchanged for products/services D. Acceptance of the offer must be voluntary

C. Money is exchanged for products/services

Which government office is responsible for the federal registration of trademarks? A. U.S. Trademark Services B. Local Chambers of Commerce C. Patent and Trademark Office D. Internal Revenue Service

C. Patent and Trademark Office

In which stage of the product planning and development process would it be appropriate to give product samples to a panel of potential customers? A. Idea stage B. Concept stage C. Product development stage D. Commercialization stage

C. Product development stage

Philip Morris acquiring Miller Brewing is an example of what type of merger? A. Market extension merger B. Horizontal merger C. Product extension merger D. Vertical merger

C. Product extension merger

_____ is a type of merger in which acquiring and acquired companies have related production and/or distribution activities but do not have products that compete directly with each other. A. Market extension merger B. Horizontal merger C. Product extension merger D. Vertical merger

C. Product extension merger

______ is a nonprofit organization that provides free online and in-person assistance to entrepreneurs in the form of training, consulting and mentoring provided mainly by retired executives and entrepreneurs. A. CSBC B. NAICS C. SCORE D. SIC

C. SCORE

It is a practice in some cultures to hug and even kiss when greeting a known business partner. What aspect of nonverbal language is being referred to in the above example? A. Time B. Business relationship C. Space D. Customs

C. Space

Which of the following was not discussed in the text as a breakthrough innovation? A. The airplane B. The Internet C. Spanx D. Penicillin

C. Spanx

Which of the following problem-solving techniques begins with group members not knowing the exact nature of the problem? A. Parameter analysis B. Matrix charting C. The Gordon method D. Free association

C. The Gordon method

Licensing is best described as: A. a nonequity method of international business in which an entrepreneur contracts his or her management techniques and skills to a (foreign) purchasing company. B. a method of doing international business whereby a foreign entrepreneur supplies the manufacturing technology or infrastructure for a business and then turns it over to local owners. C. a method that involves giving a foreign manufacturer the right to use a patent, technology, production process, or product in return for the payment of a royalty. D. an equity partnership that involves selling patents to foreign governments.

C. a method that involves giving a foreign manufacturer the right to use a patent, technology, production process, or product in return for the payment of a royalty.

Creativity declines with A. training and tradition. B. education and work experience. C. age, education and lack of use. D. mental health and work experience.

C. age, education and lack of use.

Licensing represents opportunities for: A. expanding into new markets. B. reach more customers in existing target markets. C. an entrepreneur to profit with less risk and costly start-up investment. D. an entrepreneur to gain access to others' copyrights, trademarks and patents.

C. an entrepreneur to profit with less risk and costly start-up investment.

Priceline.com's service where a buyer can submit a price bid for a particular service is an example of a: A. utility patent. B. design patent. C. business method patent. D. license.

C. business method patent.

Trade secrets are protected: A. by the General Agreement on Tariffs and Trade. B. by federal law. C. by state law. D. by the Library of Congress.

C. by state law.

The section of the patent application which provides the criteria by which any infringement will be determined is the: A. background and advantages section. B. description of the invention. C. claims section. D. executive summary.

C. claims section.

A country's _______________ is the difference between the value of a country's imports and exports over time. A. gross national product B. purchasing power parity C. current account D. foreign exchange reserve

C. current account

Patents filed with the U.S. Patent Office: A. are not disclosed to the public. B. are the property of the U.S. Government. C. frequently suggest other new products. D. are only accessible to public limited companies.

C. frequently suggest other new products.

Primary data is: A. data that has been collected by the private sector. B. data collected by the government. C. original information collected by the entrepreneur. D. data that is hard to find.

C. original information collected by the entrepreneur.

Orders and sensitive information should be transferred: A. through credit card companies. B. by banner ads. C. over secure servers. D. through open telephone lines.

C. over secure servers.

In the idea stage of the product planning and development process: A. conversational interviewing is used. B. product samples are given out. C. systematic market evaluation is used. D. multiple brand comparison is used.

C. systematic market evaluation is used.

Brainstorming groups should: A. contain an expert in the field to be discussed. B. be serious and work-oriented. C. try to generate as many ideas as possible. D. encourage criticism of ideas from other participants in the group.

C. try to generate as many ideas as possible.

The term of a copyright is the author's life plus: A. 20 years. B. 30 years. C. 50 years. D. 70 years.

D. 70 years.

What percentage of small businesses have a website? A. 60% B. 70% C. 80% D. 90%

D. 90%

_____ is not desirable when brainstorming is in process. A. "Freewheeling" B. Idea combination and improvement C. Generating a large quantity of ideas D. Criticism

D. Criticism

Which among the following influences whether customers are able to use the good or service properly and whether they are able to understand the firm's advertising or other promotional messages? A. Political philosophy B. Religion C. Manners and customs D. Education

D. Education

How many stages are in the product planning and development process? A. Two B. Three C. Four D. Five

D. Five

All of the following are government sources of information except: A. Census reports B. Export/Import Authority C. NAICS and SIC D. Hoovers

D. Hoovers

What area of e-commerce experienced the third largest increase in sales, 17%, from 2010-2011? A. Digital content and subscriptions B. Events tickets C. Consumer Electronics D. Jewelry and watches

D. Jewelry and watches

______ is defined as the risk of interference with the operations of the venture. A. Transfer risk B. Ownership risk C. Investment risk D. Operating risk

D. Operating risk

The _______ was established to facilitate patent filings in multiple countries. A. General Agreement on Trades and Tariffs B. Patent and Trademark Office C. Sarbanes-Oxley Act D. Patent Cooperation Treaty

D. Patent Cooperation Treaty

Which of the following statements is true? A. Customers form the largest source of new ideas for entrepreneurs. B. While members of the distribution channel may be willing to provide new ideas for entrepreneurs, they may not help market them. C. The Federal Government is not a source of new ideas since the patent information they collect is confidential. D. Potential entrepreneurs should establish a formal method for monitoring and evaluating competitive products and services on the market.

D. Potential entrepreneurs should establish a formal method for monitoring and evaluating competitive products and services on the market.

What type of agreement must always be in writing in order to be a legally binding contract? A. Client B. Distributor C. Supplier D. Real estate

D. Real estate

The North American Free Trade Agreement (NAFTA) is between which of the following countries? A. United States, Brazil, and Canada B. United States, Mexico, and Brazil C. United States, Argentina, and Brazil D. United States, Canada, and Mexico

D. United States, Canada, and Mexico

McDonald's acquiring its store franchises is an example of what type of merger? A. Market extension merger B. Horizontal merger C. Product extension merger D. Vertical merger

D. Vertical merger

What type of insurance is mandatory in some states? A. Property B. Bonding C. Life D. Workers' Compensation

D. Workers' Compensation

What type of innovation is illustrated by the ideas of the airplane and penicillin? A. ordinary innovation B. continuous innovation C. technological innovation D. breakthrough innovation

D. breakthrough innovation

Exporting: A. is the least popular method for going global. B. results in a lack of control over quality. C. results in an inability to realize location economies. D. can be direct or indirect.

D. can be direct or indirect.

Licensing can be used by the entrepreneur to: A. protect the Board of Directors from liability. B. insulate management from liability. C. protect confidentiality of a trade secret. D. copy a competitor's patent.

D. copy a competitor's patent.

An opportunity assessment plan: A. is the same thing as a business plan. B. is longer than a business plan. C. has a lot of computer-based spreadsheets. D. focuses on the opportunity, not the venture.

D. focuses on the opportunity, not the venture.

In the ________ method, a word is written down, then another, creating a chain of ideas. A. reverse brainstorming B. matrix charting C. heuristic D. free association

D. free association

The Occupational Safety and Health Act (OSHA) mandated that first-aid kits be available in business establishments employing more than three people. A newly formed company was successful in developing first-aid kits that allowed companies to comply with the standards of the act. This is an example of: A. distribution channels as an excellent source for new ideas. B. existing products and services as a source for new ideas. C. potential consumers as a source for new ideas. D. government regulations as a source for new product ideas.

D. government regulations as a source for new product ideas.

All of the following is true of the General Agreement on Tariffs and Trade except: A. it includes over 100 nations. B. it reduces tariffs, subsidies, and import quotas. C. it has extensive authority to enforce trade practices due to its voluntary membership. D. it is one of the longest-lasting agreements on trade.

D. it is one of the longest-lasting agreements on trade.

A patent attorney hired as a specialist to help the entrepreneur obtain a patent would most likely be hire on a: A. retainer fee B. success fee C. out-of-pocket reimbursement D. one-time fee

D. one-time fee

Creative synthesis is an important aspect of the _________ method of creative problem solving. A. brainwriting B. forced association C. attribute listing D. parameter analysis

D. parameter analysis

The _______ is defined as the stages each product goes through from introduction to decline. A. entrepreneurial decision making process B. test marketing process C. product planning and development process D. product life cycle

D. product life cycle

The stage in the product planning and development process in which actual sales results are available is the: A. idea stage. B. concept stage. C. product development stage. D. test marketing stage.

D. test marketing stage.

Copyrights are registered with: A. the U.S. Justice Department. B. the Internet Commission. C. the GATT. D. the Library of Congress.

D. the Library of Congress.

Reverse brainstorming is much like brainstorming except that: A. criticism is not allowed. B. the technique is based on finding solutions. C. the group need not be careful to maintain good morale. D. the process usually involves identification of everything wrong with an idea.

D. the process usually involves identification of everything wrong with an idea.