MGMT 340 Chapter 9
Attorney-hopping is the best way to keep legal fees to a minimum. (T/F)
False
A trademark is a distinctive name, mark, or symbol that is identified with a company's product.
A
Any legal proceeding can cost an entrepreneur a lot of money in legal fees.
A
If a trademark has not been used for two consecutive years, it could be invalidated under Select one: a. a cleaning-out procedure. b. generic meaning. c. abandonment. d. cancellation proceedings.
C
The determination of fair use of copyrighted material is based on Select one: a. the time period involved. b. specific legal guidelines set forth by OSHA. c. the effect of use on the potential market for the work. d. the GAD doctrine.
C
A trademark is a distinctive _____ that is identified with a company's product. Select one: a. storefront sign b. TV ad c. billboard d. name
D
Because of the _____ doctrine, it is sometimes difficult to establish infringement. Select one: a. freedom of information b. right to publish c. acquisition d. fair use
D
Copyrights can be placed on all of the following except Select one: a. lectures. b. music. c. books. d. ideas.
D
Chapter 7, Chapter 9, and Chapter 11 are the most common forms of bankruptcy. (T/F)
False
Entrepreneurs should not be concerned with establishing a clear fee structure with an attorney before any legal matters are handled. (T/F)
False
The patent process is neither complex nor does it require careful planning. (T/F)
False
Trademark registration and search is not costly. (T/F)
False
For the author of creative material to obtain a copyright, the material must be in _____ form. Select one: a. tangible b. commercial c. nontangible d. technical
A
A typical symptom of impending bankruptcy is when Select one: a. the entrepreneur seeks to exit the market. b. other firms seem to be selling products that are a generation ahead. Correct c. retailers always seem to be understocked. d. new competition exits the market.
B
An S corporation takes its name from Select one: a. Uniform Commercial Code. b. Subchapter S. c. state law. d. S Lab.
B
What percentage of issued patents is considered commercially valuable? Select one: a. about half b. a very small percentage Correct c. a very large percentage d. about a third
B
Works created after January 1, 1978, have a copyright for the life of the author plus Select one: a. 10 months. b. 70 years. c. 50 years. d. 14 years.
B
Copyrights may be expressed in all of the following except Select one: a. books. b. computer programs. c. motion pictures. d. ideas
D
Design patent protection lasts for _____ years. Select one: a. 20 b. 12 c. 10 d. 15
D
Specific forms of partnership include _____ and _____. Select one: a. limited partnerships; limited liability companies b. S partnerships; limited liability companies c. limited partnerships; S partnerships d. limited partnerships; limited liability partnerships
D
The two parts of a patent application are specification and claims. (T/F)
True
Anyone who violates an author's exclusive rights under a copyright is liable for infringement. (T/F)
True
Because corporate law makes it difficult for businesses to consider employee, community, and environmental interests in their decision making, the B corporation has been introduced. (T/F)
True
One of the principal advantages of a corporation is that the stockholder's liability (the most money a person can lose) is limited to an individual's investment. (T/F)
True
Patents eventually expire. (T/F)
True
In order to obtain a patent, an application should be filed with the Select one: a. Patent and Trademark Office of the Department of Commerce. Correct b. United States Small Business Association. c. Government Accounting Office. d. Office of Government Publications.
A
Patents that are not design patents have _____ years of protection. Select one: a. 20 b. l5 c. 25 d. 22
A
The failure of a trademark owner to file an affidavit stating it is in use is referred to as which of the following trademark invalidation reasons? Select one: a. cleaning-out procedure b. a competitor's lawsuit c. consumer loss of interest d. cancellation proceeding
A
The owner of a copyright may do all of the following except Select one: a. deduct the intrinsic value of the rights from one's taxes. b. perform the work publicly. c. reproduce the work. d. display the work publicly.
A
Which of the following is an indicator that an entrepreneur's business is failing? Select one: a. Obligations are greater than assets. Correct b. The R&D budget is proportionally less than that of the competition. c. Retailers are overstocked. d. Other firms are selling advanced products.
A
