ENTREPCORE-LESSON 3

Question 1

_______ is the legal protection of creations of the mind, such as inventions, artworks, designs, and names.

Answer 1

Intellectual property (IP)

Question 2

What are the example of IP

Answer 2

1. Patents
2. Copyrights
3. trade secrets
4. Trademarks

Question 3

A ______ protects any original creative work.

Answer 3

copyright

Question 4

A ______ can be a vendor or supplier list, a specific but secret way of manufacturing a product, and so on

Answer 4

trade secret

Question 5

A _____ is a legal document that gives the holder exclusive rights to an invention, product, or process for a set period of time.

Answer 5

patent

Question 6

It includes patents, trademarks, copyrights, and trade secrets.

Answer 6

Intellectual Property

Question 7

These represents important assets to the entrepreneur.

Answer 7

Intellectual Property

Question 8

______should be understood even before engaging the services of an attorney.

Answer 8

Intellectual Property

Question 9

What is the primary purpose of patents?

Answer 9

To grant the exclusive right to make and use an invention for a limited time

Question 10

How are trade secrets different from patents, trademarks, and copyrights?

Answer 10

Trade secrets are protected by keeping the information confidential, while the others require registration

Question 11

What is the primary purpose of copyrights?

Answer 11

To protect original works of authorship, like videos or writings

Question 12

Why is understanding and protecting intellectual property essential for companies?

Answer 12

To safeguard valuable assets and maintain competitiveness in the market

Question 13

There are two types of this grant: registered and unregistered.

Answer 13

Trademark

Question 14

What is the symbol for a registered trademark?

Answer 14

R

Question 15

A copyright gives the owner exclusive rights to:

Answer 15

• reproduce the work
• prepare derivative works
• distribute copies
• perform the work publicly
• display the work publicly

Question 16

How many years do utility patents last?

Answer 16

20

Question 17

The primary goal of a copyright is to protect the __________, ____________, and _________________ of the author

Answer 17

time, effort, and creativity

Question 18

After publicly disclosing an invention, how long does an inventor have to apply for a patent?

Answer 18

1 year or not more than 12 months

Question 19

How many years do design patents last?

Answer 19

14

Question 20

Can a industy prevent others from providing the same product or service as the owner of the trademark?

Answer 20

no

Question 21

When someone violates your patent rights it is called?

Answer 21

patent infringement

Question 22

What is the person called who reviews patent applications?

Answer 22

patent examiner

Question 23

What does it mean for a invention to be “novel”?

Answer 23

1. “novelty,” which is simply another word used to mean that the invention in new
2. different from anything previously patented, publicly described or used, on sale or otherwise available to the public anywhere in the world. The sum of these previous public works is called “prior art.”

Question 24

What is the symbol for a non-registered trademark?

Answer 24

TM

Question 25

What are the 3 types of patents?

Answer 25

Utility, Design, and Plant

Question 26

Name the 6 categories protected by copyright laws

Answer 26

• Paintings
• Literary works
• Live performances
• Photographs
• Movies
• Software

Question 27

What is the definition of a copyright?

Answer 27

a persons exclusive right to reproduce, publish, or sell his or her original work of authorship.

Question 28

Can copyright owners transfer their exclusive rights?

Answer 28

YES

Question 29

A _____ may work on a retainer basis or may be hired for a one-time fee.

Answer 29

lawyer

Question 30

A good working relationship with a lawyer:

Answer 30

1. Eases some of the risk in starting a new business.
2. Gives the entrepreneur necessary confidence.

Question 31

Entrepreneur can offer the lawyer _____ in exchange for services

Answer 31

stock

Question 32

Grants holder protection from others making, using, or selling similar idea

Answer 32

Patent

Question 33

Patent are issued by?

Answer 33

Patent and Trademark Office (PTO).

Question 34

Protection of new, useful, and unobvious processes, machines, compositions of matter, and articles of manufacture; term of 20 years.

Answer 34

Utility patent

Question 35

Covers new, original, ornamental, and unobvious designs for articles of manufacture; term of 14 years.

Answer 35

Design patent

Question 36

Given for new varieties of plants.

Answer 36

Plant patent

Question 37

_______was established to facilitate patent filings in multiple countries in one office.

Answer 37

The Patent Cooperation Treaty (PCT)

Question 38

International Patents is administered by the ___________ in Geneva, Switzerland; has over 100 participants.

Answer 38

World Intellectual Property Organization (WIPO)

Question 39

A distinguishing word, name, or symbol used to identify a product.

Answer 39

Trademarks

Question 40

It can be filed solely on the intent to use the trademark in interstate or foreign commerce; also with the intent to use in the future.

Answer 40

Trademarks

Question 41

What are the Categories of trademarks:

Answer 41

Coined marks.
Arbitrary marks.
Suggestive marks.
Descriptive marks.

Question 42

Right given to prevent others from printing, copying, or publishing any original works of authorship.

Answer 42

Copyrights

Question 43

_______ are registered with the Library of Congress.

Answer 43

Copyrights

Question 44

Term of the _______is the life of the author plus 70 years.

Answer 44

copyright

Question 45

Provides protection against others revealing or disclosing information that could be damaging to business.

Answer 45

trade secrets

Question 46

_______ have a life as long as the idea or process remains a secret.

Answer 46

Trade secrets

Question 47

A contractual agreement giving rights to others to use intellectual property in return for a royalty or fee.

Answer 47

Licensing

Question 48

Types of licensing:

Answer 48

1. Patent license agreements
2. Trademark license agreements
3. Copyright license agreements

Question 49

Specify how the licensee would have access to the patent.

Answer 49

Patent license agreements

Question 50

Involve a franchising agreement.

Answer 50

Trademark license agreements

Question 51

Involve rights to use or copy books, software, music, photographs, plays, etc.

Answer 51

Copyright license agreements