Chapter 8, Legal Environment of Business

Trademark

A distinctive mark, motto, device, or implement that a manufacturer stamps, prints, or otherwise affixes to the goods it produces so that they can be identified on the market and their origins made known.

Patent

A grant from the government that gives an inventor the exclusive right to make, use, or sell his or her invention for a period of twenty years.

Service Mark

A trademark that is used to distinguish the services of one person or company from those of another.

True: To be patentable, the applicant must prove that the invention, discovery, process, or design is novel, useful, and not obvious (in light of current technology).

To be patentable, the applicant must prove that the invention, discovery, process, or design is novel, useful, and not obvious (in light of current technology); true or false?

True: trade secrets extends to both ideas and to their expression

trade secrets extends to both ideas and to their expression; true or false?

Trade name

Indicates part or all of a business' s name, whether the business is a sole proprietorship, a partnership, or a corporation.

Trade secret

Information of commercial value, such as customer lists, plans, and research and development.

Fanciful and Arbitray Trademarks

Inherently distinctive trademarks that may include invented words.

False: Section 102 of the copyright act specifically excludes copyright protection for any "idea, procedure, process, system, method of operation, concept, principle, or discovery, regardless of the form in which it is described, explained illustrated or embodied."

It is possible to copyright an idea; true or false?

True: No patent infringement occurs when a patented product is made and sold in another country.

No patent infringement occurs when a patented product is made and sold in another country; true or false?

False: Patent infringement may occur even though the patent owner has not put the patented product into commerce.

Patent infringement will not occur if the patent owner has not put the patented product into commerce; true or false?

Trademark dilution laws

Protects famous trademarks from certain unauthorized uses even when the use is on noncompeting goods.

Trade dress

The image and overall appearance of a product.

Licensee

The party obtaining the license.

Licensor

The party that owns the intellectual property rights and issues use of the license.

Suggestive Trademarks

These trademarks indicate something about a product's name, quality, or characteristics, without describing the product directly.

True: Trademarks can only be registered if it is currently in use or if the applicant intends to put it into commerce within six months.

Trademarks can only be registered if it is currently in use or if the applicant intends to put it into commerce within six months.; True or False?

Under the Berne convention if a u.s. citizen writes a book, every country that has signed the convention must recognize U.S. author's copyright in the book.

Under the__________ convention if a u.s. citizen writes a book, every country that has signed the convention must recognize U.S. author's copyright in the book.

Collective Mark

Used by members of a cooperative, association, or other organization, a certification mark is reffered to as a...

Certification Mark

Used by one or more person, other than the owner, to certify the region, materials, mode of manufacture, quality, or other characteristic of specific goods or services.

License

An agreement, or contract, permitting the use of a trademark, copyright, patent, or trade secret for certain purposes.

Copyright

An intangible property tight granted by federal statute to the author or originator of a literary or artistic production of a specified type.

Intellectual Property

Any property that results from intellectual creative processes.