Question 1

Computer software is not covered by copyright law.

Accepted Answer

A) True 
 B)False

Question 2

An ________ is conducted to determine the intellectual property a company owns.

Accepted Answer

A)   intellectual property audit
B)   intangible materials audit
C)   academic property inventory
D)   intellectual materials inventory
E)   intangible property inventoryF) B) and E)
G) C) and D)

Question 3

Copyright law is governed by the:

Accepted Answer

A)   U.S. Constitution
B)   The 1946 Intellectual Property Act
C)   The 1966 Trademark and Copyright Act
D)   The 1955 Inventors and Writer's Protection Act
E)   Copyright Revision Act of 1976F) A) and C)
G) A) and B)

Question 4

Copyright law protects any work of authorship:

Accepted Answer

A)   90 days after it is approved by the U.S. Copyright Office
B)   one year after it assumes a tangible form
C)   the moment it assumes a tangible form
D)   as soon as it is approved by the U.S. Copyright Office
E)   30 days after it assumes a tangible formF) A) and E)
G) All of the above

Question 5

A trade secret is any formula, pattern, physical device, idea, process, or other information that provides the owner of the information with a competitive advantage in the marketplace.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is not one of the four key forms of intellectual property protection?

Accepted Answer

A)   trade secrets
B)   copyrights
C)   trademarks
D)   innovations
E)   patentsF) None of the above
G) C) and D)

Question 7

There are two primary reasons to conduct an intellectual property audit. First, it is prudent for a company to periodically determine whether its intellectual property is being properly protected. The second reason for a company to conduct an intellectual property audit is to:

Accepted Answer

A)   remained prepared for a Security & Exchange Commission spot inspection
B)   remain prepared to justify its value in the event of a merger or acquisition
C)   remain prepared for an initial public offering
D)   update the value of its intellectual property on its balance sheet
E)   make sure no intellectual property has been stolenF) A) and B)
G) A) and C)

Question 8

The owner of a patent is granted a legal monopoly for an unlimited period of time.

Accepted Answer

A) True 
 B)False

Question 9

Copyright infringement occurs when one work derives from another or is an exact copy.

Accepted Answer

A) True 
 B)False

Question 10

There are three basic requirements for a patent to be granted. The subject of the patent application must be:

Accepted Answer

A)   useful, difficult to copy, and novel in relational to prior arts in the field
B)   based on cutting edge science or technology, not obvious to a person of ordinary skill in the filed, and rare
C)   useful, novel in relation to prior arts in the field, and not obvious to a person of ordinary skill in the field
D)   rare, difficult to copy, and not obvious to a person of ordinary skill in the field
E)   useful, scientific, and novel in relation to prior arts in the fieldF) A) and B)
G) B) and E)

Question 11

________ occurs when one work derives from another or is an exact copy or shows substantial similarity to the original work.

Accepted Answer

A)   Copyright infringement
B)   Copyright violation
C)   Copyright intrusion
D)   Copyright breach
E)   Copyright violation.F) B) and E)
G) D) and E)

Question 12

Consider the following questions: Are products under development that require patent protection?; Are we in compliance with the copyright license agreements into which we have entered?; Is anyone infringing on our trademarks; and Are company trade secrets leaking out to competitors? These are the types of questions that would be asked when conducting a(n) :

Accepted Answer

A)   intangible material examination
B)   intellectual property inventory
C)   intangible material inspection
D)   patent, trademark, copyright, and trade secret review
E)   intellectual property auditF) All of the above
G) A) and B)

Question 13

Combinations of numbers and letters, such as 3M and 1-800-FREE-411, cannot be trademarked.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following isn't an example of intellectual property?

Accepted Answer

A)   Proactiv's formula for acne medication
B)   Yahoo's trademark
C)   the Internet domain name www.starbucks.com
D)   Microsoft's Window operating system
E)   a computer mouseF) C) and D)
G) D) and E)

Question 15

The term of a utility patent is:

Accepted Answer

A)   7 years from the date the patent is granted
B)   15 years from the date of the initial application
C)   15 years from the date the patent is granted
D)   20 years from the date of the initial application
E)   20 years from the date the patent is grantedF) All of the above
G) A) and B)

Question 16

The federal Economic Espionage Act, passed in 1996, criminalizes:

Accepted Answer

A)   copyright infringement
B)   utility patent violations
C)   trademark violations
D)   design patent violations
E)   the theft of trade secretsF) B) and C)
G) D) and E)

Question 17

Since the first patent was granted, there have been over ________ patents granted in the United States.

Accepted Answer

A)   500,000
B)   3 million
C)   5 million
D)   7 million
E)   9 millionF) A) and E)
G) A) and C)

Question 18

Which of the following are the four key forms of intellectual property protection?

Accepted Answer

A)   patents, copyrights, trademarks, and trade secrets
B)   discoveries, convents, trademarks, patents
C)   patents, official documents, copyrights, inventions
D)   discoveries, Internet domain names, innovations, trademarks
E)   convents, inventions, opportunities, and copyrightsF) A) and E)
G) A) and B)

Question 19

A form of intellectual property protection that grants to the owner of a work of authorship the legal right to determine how the work is used and to obtain the economic benefits from the work is referred to as a:

Accepted Answer

A)   assurance document
B)   patent
C)   trade secret
D)   brand
E)   copyrightF) A) and B)
G) A) and C)

Question 20

A grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for a specific period of time is referred to as a:

Accepted Answer

A)   trademark
B)   copyright
C)   idea secret
D)   innovation
E)   patentF) A) and E)
G) D) and E)

Exam 12: The Importance of Intellectual Property

Which of the following are the four key forms of intellectual property protection?

Correct Answer
verified

There are three basic requirements for a patent to be granted. The subject of the patent application must be:

Correct Answer
verified

The federal Economic Espionage Act, passed in 1996, criminalizes:

Correct Answer
verified

A form of intellectual property protection that grants to the owner of a work of authorship the legal right to determine how the work is used and to obtain the economic benefits from the work is referred to as a:

Correct Answer
verified

There are two primary reasons to conduct an intellectual property audit. First, it is prudent for a company to periodically determine whether its intellectual property is being properly protected. The second reason for a company to conduct an intellectual property audit is to:

Correct Answer
verified

Which of the following is not one of the four key forms of intellectual property protection?

Correct Answer
verified

A grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for a specific period of time is referred to as a:

Correct Answer
verified

________ occurs when one work derives from another or is an exact copy or shows substantial similarity to the original work.

Correct Answer
verified

Copyright law protects any work of authorship:

Correct Answer
verified

Since the first patent was granted, there have been over ________ patents granted in the United States.

Correct Answer
verified

Combinations of numbers and letters, such as 3M and 1-800-FREE-411, cannot be trademarked.

Correct Answer
verified

Copyright law is governed by the:

Correct Answer
verified

The owner of a patent is granted a legal monopoly for an unlimited period of time.

Correct Answer
verified

Which of the following isn't an example of intellectual property?

Correct Answer
verified

Computer software is not covered by copyright law.

Correct Answer
verified

An ________ is conducted to determine the intellectual property a company owns.

Correct Answer
verified

Copyright infringement occurs when one work derives from another or is an exact copy.

Correct Answer
verified

A trade secret is any formula, pattern, physical device, idea, process, or other information that provides the owner of the information with a competitive advantage in the marketplace.

Correct Answer
verified

Correct Answer
verified

The term of a utility patent is:

Correct Answer
verified

Exam 12: The Importance of Intellectual Property

Which of the following are the four key forms of intellectual property protection?

Correct AnswerverifiedShow Answer

There are three basic requirements for a patent to be granted. The subject of the patent application must be:

Correct AnswerverifiedShow Answer

The federal Economic Espionage Act, passed in 1996, criminalizes:

Correct AnswerverifiedShow Answer

A form of intellectual property protection that grants to the owner of a work of authorship the legal right to determine how the work is used and to obtain the economic benefits from the work is referred to as a:

Correct AnswerverifiedShow Answer

There are two primary reasons to conduct an intellectual property audit. First, it is prudent for a company to periodically determine whether its intellectual property is being properly protected. The second reason for a company to conduct an intellectual property audit is to:

Correct AnswerverifiedShow Answer

Which of the following is not one of the four key forms of intellectual property protection?

Correct AnswerverifiedShow Answer

A grant from the federal government conferring the rights to exclude others from making, selling, or using an invention for a specific period of time is referred to as a:

Correct AnswerverifiedShow Answer

________ occurs when one work derives from another or is an exact copy or shows substantial similarity to the original work.

Correct AnswerverifiedShow Answer

Copyright law protects any work of authorship:

Correct AnswerverifiedShow Answer

Since the first patent was granted, there have been over ________ patents granted in the United States.

Correct AnswerverifiedShow Answer

Combinations of numbers and letters, such as 3M and 1-800-FREE-411, cannot be trademarked.

Correct AnswerverifiedShow Answer

Copyright law is governed by the:

Correct AnswerverifiedShow Answer

The owner of a patent is granted a legal monopoly for an unlimited period of time.

Correct AnswerverifiedShow Answer

Which of the following isn't an example of intellectual property?

Correct AnswerverifiedShow Answer

Computer software is not covered by copyright law.

Correct AnswerverifiedShow Answer

An ________ is conducted to determine the intellectual property a company owns.

Correct AnswerverifiedShow Answer

Copyright infringement occurs when one work derives from another or is an exact copy.

Correct AnswerverifiedShow Answer

A trade secret is any formula, pattern, physical device, idea, process, or other information that provides the owner of the information with a competitive advantage in the marketplace.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The term of a utility patent is:

Correct AnswerverifiedShow Answer

Correct Answer
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