ENTR 321 Chapter 9
Which of the following are not trademarks? a.) mottos b.) symbols c.) names d.) generic words
generic words
All of the following are recognized as advantages of partnerships except: a.) ease of formation b.) lack of continuity c.) direct rewards d.) possible tax advantages
lack of continuity
When considering bankruptcy, entrepreneurs as sole proprietors normally prefer a.) Chapter 7 b.) Chapter 11 c.) Chapter 13 d.) Chapter 5
Chapter 13
From where does an S corporation take its name? a.) state law b.) S Lab c.) Subchapter S of the Internal Revenue Code d.) Uniform Commercial Code
Subchapter S of the Internal Revenue Code
To effectively pursue a patent violation, experts recommend that the entrepreneur a.) sue as quickly as possible b.) fill out a preprinted form obtained from a patent office c.) handle all matters personally d.) prepare a realistic budget for infringement
prepare a realistic budget for infringement
One of the principal advantages of a corporate form of ownership is that liability (the most money a person can lose) is limited to an individual's investment. True or False
True
The two parts of a patent application are specification and claims True or False
True
Three primary legal forms of organization are the sole proprietorship, the partnership, and the corporation. True or False
True
Works created and copyrighted after January 1, 1978, are protected for the life of the author plus 70 years. True or False
True
Which of the following falls under Chapter 7 bankruptcy? a.) the debtor is arrested b.) the debtor surrenders most property to a court trustee c.) the debtor fails to file income taxes d.) the debtor is relieved of obligations
the debtor is relieved of obligations
That part of a patent application which identifies the features that are protected is known as the a.) claim b.) identification c.) essence d.) particular
claim
The owner of a copyright may do all of the following except a.) perform the work publicly b.) reproduce the work c.) display the work publicly d.) deduct the intrinsic value of the rights from one's taxes
deduct the intrinsic value of the rights from one's taxes
When a trademark becomes the name of a general group of products or services, the trademark protection may be lost because of a.) generic meaning b.) abandoment c.) cleaning-out procedure d.) cancellation proceedings
generic meaning
There are two parts to a patent application, claims and a.) integration b.) percentage c.) specification d.) value
specification
Chapter 7, Chapter 9, and Chapter 11 are the most common forms of bankruptcy. True or False
False
If often is possible to obtain more capital and a better range of skills in a sole proprietorship than in a partnership. True or False
False
Laws governing intellectual property rights include copyrights, trademarks, and leases. True or False
False
All of the following are ways of invalidating a trademark except a.) cleaning-out proceedings b.) clearing-our proceedings c.) generic meaning d.) abandonment
clearing-out proceedings
Specific forms of partnership include which of the following? a.) limited partnerships b.) limited partnerships and limited liability parnerships c.) S partnerships and limited liability companies d.) limited partnerships and S parnerships
limited partnerships and limited liability partnerships
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark Motion picture
Copyright
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark Musical comedy
Copyright
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark Stage play
Copyright
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark Company's initials (such as IBM or ITT)
Trademark
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark Logo
Trademark
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark Slogan
Trademark
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark Symbol
Trademark
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark Word (such as Coke or Pepsi)
Trademark
The registration of a trademark has a lifetime of a.) the lifetime of the owner b.) 10 years plus 10-year renewable periods c.) 20 years plus 5-years renewable periods d.) 25 years
10 years plus 10-year renewable periods
Works created after January 1, 1978, have a copyright for the life of the author plus a.) 70 years b.) 14 years c.) 10 months d.) 50 years
70 years
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark A distinctive name, mark, symbol, or motto identified with a company's product.
Trademark
A copyright provides exclusive rights to creative individuals for the protection of their artistic productions True or False
True
A trademark is a distinctive name, makr, or symbol that is identified with a company's product True or False
True
The registration of a trademark lasts for 40 years, with continuous renewal every 10 years. True or False
False
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
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark An exclusive protection of a literary or an artistic production.
Copyright
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark Best-selling novel
Copyright
Entrepreneurs need to know how to legally protect their interests in a property or work. The most effective way to gain legal protection is to obtain a copyright or a trademark. Choose the appropriate term or legal protection that corresponds to the following definitions or items. Copyright or Trademark Computer program
Copyright