Quiz 1

Question 1

Name the 5 types of intellectual property

Answer 1

Patents, trademarks, trade secrets, trade dress, copyrights

Question 2

Explain what intellectual property is

Answer 2

Legally protected intellectual activity in industrial, scientific, literary and artistic fields.

Question 3

General criteria for patentability

Answer 3

Novel, useful and non-obvious

Question 4

Most valuable patented drug

Answer 4

Lipitor

Question 5

Name the four types of non patentable subject matter.

Answer 5

Abstract ideas, laws of nature, things that occur naturally, mathematical algorithms

Question 6

Patentability criteria - 5 statutory classes

Answer 6

Processes, machines, manufactures, compositions of matter, new uses of any of the above

Question 7

Utility patents generally cover what?

Answer 7

Manner in which something functions, works, or is made/constructed

Question 8

Name the critical elements of a patent

Answer 8

Specifications, drawings, preferred embodiment, claims

Question 9

What are the 4 types of patents?

Answer 9

Utility patents, design patents, plant patents, and PCT

Question 10

What is the PCT system?

Answer 10

Allows one to file a local patent application and then an international application within 12mo

Question 11

Design patents

Answer 11

Covers visual design/shape - iPhone display, coke bottles, etc

Question 12

Types of trademarks?

Answer 12

Word marks, design marks (Nike swoosh), composite marks (words and designs, etc McDonald’s logo), and slogans

Question 13

Combination protection strategy

Answer 13

Combining a patent and a trademark

Question 14

Software specific combination protection strategy

Answer 14

Patent + copyright protection

Question 15

Relevancy of the Bayh-Dole act

Answer 15

Allows for university tech transfer

Question 16

3 types of IP transactions

Answer 16

License, option, assignment

Question 17

What does BATNA mean?

Answer 17

Best alternative to a negotiation agreement

Question 18

Name one successful US tech transfer

Answer 18

Robert Cade/U Florida….creation of Gatorade

Question 19

License negotiation - university’s needs?

Answer 19

Commercially reasonable license, royalty streams, research funding, business plan

Question 20

Company’s needs - license negotiation with university

Answer 20

Working technology, warranty, input into patent prosecution, exclusivity

Question 21

Name the parameters to negotiate

Answer 21

Royalty rate, sub licensing royalty rate, licensing grant, milestones, upfront payments, patent expense

Question 22

What is a remedy (patent law)?

Answer 22

Federal action for patent infringement

Question 23

What are the two types of infringement?

Answer 23

Direct infringement and indirect infringement

Question 24

Patent infringement - all elements rule

Answer 24

Each and every element in a claim must be found in the accused product or process

Question 25

True or false: new info can be added to a patent specification after filing

Answer 25

False

Question 26

Parts of a claim

Answer 26

Preamble, transition, body

Question 27

Example of a claim preamble

Answer 27

A compound, a device, a method, a system,

Question 28

Claim transition statement examples

Answer 28

…comprising, consisting of, consisting essentially of…