Full Test Bank Chapter.11 Intellectual Property 5th Edition

Technology Ventures (Byers), 5e

Chapter 11 Intellectual Property

1) What is intellectual property?

A) Valuable intangible property owned by person's or companies

B) Enterprise cloud services (ex. Amazon Web Services)

C) Temporary rentals of office space

D) Internal records of employees

2) In general, it is easier to protect intellectual property more than physical property.

3) The formula for Coke is considered a ________.

A) monopoly

B) production insight

C) trade secret

D) production process

4) If an engineer leaves Lyft to work at Uber, she could be in violation of what contract?

A) NDA

B) NCC

C) CA

D) CDA

5) In general, how long does a patent last from the date of filing?

A) 5 years

B) 10 years

C) 15 years

D) 20 years

6) Apple's page-turning animation that occurs on an iPad when flipping through an e-book is an example of a business method patent.

7) Patents are territorial, which means inventors must apply for a patent again in new countries.

8) What industry typically has the strongest intellectual property positions?

A) Technology

B) Pharmaceutical

C) Agriculture

D) Energy

9) What is not something entrepreneurs should consider when filing a patent?

A) Whether a competitor could come up with an alternative

B) The ability to defend the patent in court

C) Taking other forms of protection like trade secrets

D) Building out a legal division for the startup

10) What is a trademark?

A) Distinctive word, name, or shape that identifies a company

B) A form of design patent

C) A form of utility patent

D) Embargo on certain imports

11) A registered trademark can be renewed indefinitely.

12) Of the following, what has lost its trademark because it has become a common name?

A) Google

B) Coca-Cola

C) Xerox

D) Aspirin

13) Why did Jeff Bezos choose to name his company Amazon?

A) It conveyed the idea of a huge entity that was not limited to one product

B) To form a positive connotation with the rainforest

C) Because of his passion for animals

D) He thought of the idea for the company while trekking in the rainforest

14) The company Slack stands for ‘Searchable List of All Contacts and Knowledge.'

15) It is easier to obtain a copyright than a trademark or a patent, but a copyright is also more limited in scope.

16) A ________ is a grant to another firm to make use of the rights to intellectual property.

A) royalty

B) patent

C) permit

D) license

17) Why is it most beneficial for a company to license out its product?

A) Valuable market penetration

B) Increase in valuation

C) Increased user testing

D) Infringement protection

18) If an entrepreneur invents something in a university lab space and brings it to market, it is often the universities that own the intellectual property.

19) Of the following, what does a university typically not get in exchange for granting a license?

A) Annual fee

B) Percentage of product revenue

C) Equity

D) Board seat

20) What was the topic of the historic lawsuit Apple won in 1982?

A) Copyright related to software embedded in chips

B) Operating system trademarks

C) Typography trade secrets

D) Design patent infringement