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