ch 9
slogan
trademark
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. a. True b. False
a
Specific forms of partnership include which of the following? a. limited partnerships and limited liability partnerships b. S partnerships and limited liability companies c. limited partnerships and S partnerships d. limited partnerships
a
The two parts of a patent application are specification and claims. a. True b. False
a
Three primary legal forms of organization are the sole proprietorship, the partnership, and the corporation. a. True b. False
a
When considering bankruptcy, entrepreneurs as sole proprietors normally prefer a. Chapter 13. b. Chapter 5. c. Chapter 7. d. Chapter 11.
a
Works created and copyrighted after January 1, 1978, are protected for the life of the author plus 70 years. a. True b. False
a
Chapter 7, Chapter 9, and Chapter 11 are the most common forms of bankruptcy. a. True b. False
b
From where does an S corporation take its name? a. state law b. Subchapter S of the Internal Revenue Code c. Uniform Commercial Code d. S Lab
b
All of the following are ways of invalidating a trademark except a. abandonment. b. generic meaning. c. clearing-out proceedings. d. cleaning-out proceedings.
c
To effectively pursue a patent violation, experts recommend that the entrepreneur a. fill out a preprinted form obtained from a patent office. b. sue as quickly as possible. c. prepare a realistic budget for infringement. d. handle all matters personally.
c
A copyright provides exclusive rights to creative individuals for the protection of their artistic productions. a. True b. False
a
A trademark is a distinctive name, mark, or symbol that is identified with a company's product. a. True b. False
a
A distinctive name, mark, symbol, or motto identified with a company's product
trademark
Company's initials (such as IBM or ITT)
trademark
Logo
trademark
symbol
trademark
word (such as coke or pepsi)
trademark
An exclusive protection of a literary or an artistic production
copyright
It often is possible to obtain more capital and a better range of skills in a sole proprietorship than in a partnership. a. True b. False
b
Laws governing intellectual property rights include copyrights, trademarks, and leases. a. True b. False
b
That part of a patent application which identifies the features that are protected is known as the a. particular. b. claim. c. essence. d. identification.
b
The registration of a trademark lasts for 40 years, with continuous renewal every 10 years. a. True b. False
b
Which of the following are not trademarks? a. names b. generic words c. symbols d. mottos
b
Which of the following falls under Chapter 7 bankruptcy? a. The debtor is arrested. b. The debtor is relieved of obligations. c. The debtor surrenders most property to a court trustee. d. The debtor fails to file income taxes.
b
Works created after January 1, 1978, have a copyright for the life of the author plus a. 10 months. b. 70 years. c. 14 years. d. 50 years.
b
The owner of a copyright may do all of the following except a. display the work publicly. b. perform the work publicly. c. deduct the intrinsic value of the rights from one's taxes. d. reproduce the work.
c
The registration of a trademark has a lifetime of a. the lifetime of the owner. b. 25 years. c. 10 years plus 10-year renewable periods. d. 20 years plus 5-year renewable periods.
c
There are two parts to a patent application, claims and a. value. b. percentage. c. specification. d. integration.
c
When a trademark becomes the name of a general group of products or services, the trademark protection may be lost because of a. cancellation proceedings. b. cleaning-out procedure. c. generic meaning. d. abandonment.
c
best-selling novel
copyright
computer program
copyright
motion picture
copyright
musical comedy
copyright
stage play
copyright
All of the following are recognized as advantages of partnerships except: a. direct rewards b. possible tax advantages c. ease of formation d. lack of continuity
d
Because of the _____ doctrine, it is sometimes difficult to establish infringement. a. freedom of information b. right to publish c. acquisition d. fair use
d
