Legal Components Affecting Entrepreneurial Ventures

Which of the following is related to continuity of ownership rights for future generations?

• Patents

• Wills, trusts, estates

• Trademarks

• Payroll

What is the purpose of the claims section in a patent application?

• To outline the marketing plan

• To identify features protected by the patent

• To provide a financial forecast

• To list the team members involved

What is the duration of copyright protection for a work?

• Life of the author plus 50 years

• Life of the author plus 70 years

• Life of the author plus 100 years

• Life of the author plus 20 years

What does copyright provide to creative individuals?

• Public domain access

• Exclusive rights for protection of their productions

• Free distribution rights

• Unlimited commercial use

What is required for a material to be eligible for copyright protection?

• It must be in a tangible form.

• It must be a collaborative work.

• It must be published internationally.

• It must be over 100 pages long.

Which of the following is an advantage of trademark registration?

• Limited protection within a state

• Temporary protection for 2 years

• Worldwide constructive notice of the owner’s right to use the mark

• Protection only against domestic competitors

How long is a trademark registration initially valid?

• 5 years

• 10 years

• 15 years

• 20 years

What is a trade secret?

• A publicly available patent

• Information that can be copyrighted

• Business processes that make a company unique and valuable to competitors

• A type of trademark

Which of the following is an example of a trade secret?

• A company's logo

• Customer lists

• A published research paper

• A government patent

What is a sole proprietorship?

• A business owned and operated by multiple people

• A business owned and operated by one person

• A corporation with multiple shareholders

• A partnership between two companies