MGT241

Legal protection is granted to computer programs in what form?

copyright

A consumer driven marketing philosophy often relies on direct selling.

false

Design patents last for 20 years.

false

Sales forecasting is a process of projecting future sales through educated guesses.

false

The first step in marketing research is to gather primary data

false

The patent process is not complex; neither does it require careful planning.

false

The registration of a trademark last for 40 years, with continuous renewal every 10 years.

false

Which of the following are not trademarks?

generic words

Copyrights can be placed on all of the following except

ideas

Anyone who violates an author's exclusive rights under a copyright is liable for:

infringement

An infringement budget deals with

legal battles

Which is not one of the major sections of the bankruptcy act?

liquidation

Which of the following is an indicator that an entrepreneur's business is failing?

liquidation

A patent gives the holder a temporary

monopoly

A trademark is a distinctive _____ that is identified with a company's product.

name

A typical symptom of impending bankruptcy failure is when

other firms seem to be selling products that are a generation ahead

All of the following are recognized as advantages of partnerships except:

possible tax advantages

If an entrepreneur concludes that an innovation will withstand any legal challenge, a patent should be

pursued

The text of a patent application is known as the

specification

A copyright provides exclusive rights to creative individuals for the protection of their artistic productions.

true

A patent is an intellectual property right.

true

How does death affect the duration of a corporation?

A corporation is unaffected by the death of a shareholder

Mobile social media applications can be differentiated based on location-sensitivity as well as on time-sensitivity.

true

The Bankruptcy Act was set up in order to provide assistance to both debtors and creditors.

true

The object of a patent is to provide the holder with a temporary monopoly over his or her innovation.

true

Of the following statements, which is true of sole proprietorships?

A sole proprietorship is a business that is owned and operated by one person

When considering bankruptcy, entrepreneurs as sole proprietors normally prefer

Chapter 13

Who defined the corporation as "an artificial being, invisible, intangible, and existing only in contemplation of the law."

Justice John Marshall

For the author of creative material to obtain a copyright, the material must be in ______ form.

Tangible

Which of the following is a way in which a trademark may be invalidated?

cancellation proceeding

In the context of trademark invalidation, if a party seeks to prove that a trademark has not been used within six years of registration, it is known as

cleaning-out procedure

All of the following are ways of invalidating a trademark except

clearing-out proceedings

B corporations' legal structure expands corporate accountability to encompass all of the following except:

comprehensive and transparent environmental standards

The two parts to a patent application are specification, and _______

Claims

There are two parts of a patent application, claims and ______.

Specification

From where does an S corporation take its name?

Subchapter S of the Internal Revenue Code

The process of trademark registration is

expensive

A marketing formation system compiles and organizes data according to a customer's sex, age, and geographic location.

false

At present, it is illegal to attempt incorporation over the internet.

false

Business owners normally prefer Chapter 7 bankruptcy over any other form of bankruptcy.

false

The role of the customer in social media marketing is as an external source of intelligence and feedback.

false

Trademark registration and search is not costly.

false

Specific forms of partnership include which of the following?

limited partnerships and limited liability partnerships

A trademark is a distinctive name, mark, or symbol that is identified with a company's product.

true

An example of a trademark is a logo.

true

Anyone who violates an author's exclusive rights under a copyright is liable for infringement.

true

Babies and career are indicative of the priorities that shape the buying decisions of persons in the nest building stage of the family life cycle.

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.

true

Because of the fair u.se doctrine, it is sometimes difficult to establish infringement

true

Patents eventually expire.

true

Shopping goods are the products that consumers take time to examine carefully and compare for quality and price.

true

Social media marketing is the application of online collaborative media for marketing purposes.

true

Straight bankruptcy is called liquidation.

true

The two parts of a patent application are specification and claims.

true

Three primary legal forms of organization are the sole proprietorship, the partnership, and the corporation.

true

Works created and copyrighted after January 1, 1978, are protected for the life of the author plus 70 years.

true

Which of the following are suggestions to minimize legal costs?

visit the lawyer during normal hours of operation

Design patent protection lasts for ____ years

14

Patents that are not design patents have _____ years of protection.

20

Every business at some point needs the services of an attorney.

true

According to the U.S. Patent Office, the process of obtaining a patent takes how many months?

24

To effectively pursue a patent violation, experts recommend that the entrepreneur

prepare a realistic budget for infringement

Marketing research involves the gathering of information about a particular market, followed by analysis of the information.

true

Once issued, the trademark is listed with the Patent and Trademark Office.

true

Works created after January 1, 1978, have a copyright for the life of the author plus

70 years

In order to obtain a patent, an application should be filed with

The Patent and Trademark Office of the Department of Commerce

Even after marketing research is done, many entrepreneurs are unsure of how to price their products or services.

true

Geographic flexibility is greater for telephone interviews than for in-person interviews.

true

If infringement can be proven in court, an award may be given to the trademark holder.

true

The emerging body of law governing cyberspace is often referred to as:

cyberlaw

A firm's pricing structure dictates almost no knowledge to customers.

false

Only major strategic decisions need to be supported through marketing research.

false

In the market shift from the 4Ps the the 4Cs, price shifts to choice and promotion shifts to communities.

true

The specification section of a patent application should include all of the following except

a budget for handling infringement

Which of the following falls under Chapter 7 bankruptcy?

the debtor is released of obligations

Which of the following is a useful rule to avoid pitfalls in selecting a trademark?

Never choose a trademark without first conducting a trademark search

It is usually more expensive to gather secondary data.

false

It often is possible to obtain more capital and a better range of skills in a sole proprietorship than in a partnership.

false

Laws governing intellectual property rights include copyrights, trademarks, and leases.

false

When a trademark becomes the name of a general group of products or services, the trademark protection may be lost because of

generic meaning

Effective marketing is based on three key elements: marketing philosophy, market segmentation, and consumer behavior.

true

Entrepreneurs should be knowledgeable about certain legal concepts that affect their business venture.

true

Marketing planning is the process of determining a clear, comprehensive approach to the creation of customers.

true

Which of the following is not a trademark?

a sales price

What percentage of issued patents is considered commercially valuable?

a very small percentage

Because of the ______ doctrine, it is sometimes difficult to establish infringement.

Fair use

Items that can qualify for patent protection include all of the following except

Ideas

The registration of a trademark has a lifetime of

10 years plus 10-year renewable periods

The owner of a copyright may do all of the following except

deduct the intrinsic value of rights from one's taxes

Copyrights may be expressed in

all of the above (books, periodicals, motion pictures)

The determination of fair use of copyrighted material is based on

the effect of use on potential market

The part of a patent application which identifies the features that are protected are known as the

Claim

A person who loses an infringement battle in court may have to pay

extra legal fees

Chapter 13 bankruptcy involves reorganization of the enterprise.

false

Chapter 7, Chapter 9, and Chapter 11 are the most common forms of bankruptcy.

false

Control versus communication is an important distinction between social media marketing and traditional marketing.

false

Copyrights have to be registered with the Copyright Office.

false

Marketing information that has already been compiled is known as secondary data.

true

Most firms generally gather primary data and then see if there is secondary data to supplement it.

false

One of the principle 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