LENB- Questions & Answers 100%
Solved
non-traditional trademarks Correct Ans-appearance, motion, shape, sound, scent, taste,
touch
copyright law Correct Ans-any artistic work, such as visual art or music
copyright term Correct Ans-life of the author plus 70 years
Fair use Correct Ans-permits limited use of copyrighted material without acquiring
permission from the rights holders
patent law Correct Ans-the right to exclude others from using a new technology 1) process,
machine, article or manufacture, or composition of matter 2) that is new, useful, and non-
obvious
Design patent Correct Ans-a form of legal protection granted to the ornamental design of a
functional item (jewelry, furniture, etc.)
utility patent Correct Ans-an invention is "useful" if it provides some identifiable benefit and
is capable of use
prior art Correct Ans-all information that has been made available to the public in any form
before a given date that might be relevant to a patent's claims of originality
sole proprietorship Correct Ans-owned by one person, there is no separation between the
business and the owner, no legal distinction between the two. Unlimited personal liability. Life is
limited to the life of the owner. The taxes paid on the business fall under the owner's personal
taxes
, partnership Correct Ans-2 or more owners that share profits and losses. Limited life-if a
partner leaves, the partnership is over, unless explained in the partnership agreement. Taxes fall
under the partners' personal taxes
joint and several liability Correct Ans-They can go after both of the partners, or pick and
choose which to go after more (whoever they can get the most money out of)
limited partnership Correct Ans-can avoid full liability and double taxation, plus they design
how the partnership can be set up
corporation Correct Ans-limited liability-to do this, you separate the ownership from control
of the company via shareholders. Unlimited life, they are seen as a legal person. Double taxation
shareholders Correct Ans-______ fund the business, but aren't involved in the actual
business of the organization
CEO Correct Ans-chief executive officer
CFO Correct Ans-chief financial officer
COO Correct Ans-chief operating officer
CIO Correct Ans-chief information officer
CMO Correct Ans-chief marketing officer
CTO Correct Ans-chief technology officer
Solved
non-traditional trademarks Correct Ans-appearance, motion, shape, sound, scent, taste,
touch
copyright law Correct Ans-any artistic work, such as visual art or music
copyright term Correct Ans-life of the author plus 70 years
Fair use Correct Ans-permits limited use of copyrighted material without acquiring
permission from the rights holders
patent law Correct Ans-the right to exclude others from using a new technology 1) process,
machine, article or manufacture, or composition of matter 2) that is new, useful, and non-
obvious
Design patent Correct Ans-a form of legal protection granted to the ornamental design of a
functional item (jewelry, furniture, etc.)
utility patent Correct Ans-an invention is "useful" if it provides some identifiable benefit and
is capable of use
prior art Correct Ans-all information that has been made available to the public in any form
before a given date that might be relevant to a patent's claims of originality
sole proprietorship Correct Ans-owned by one person, there is no separation between the
business and the owner, no legal distinction between the two. Unlimited personal liability. Life is
limited to the life of the owner. The taxes paid on the business fall under the owner's personal
taxes
, partnership Correct Ans-2 or more owners that share profits and losses. Limited life-if a
partner leaves, the partnership is over, unless explained in the partnership agreement. Taxes fall
under the partners' personal taxes
joint and several liability Correct Ans-They can go after both of the partners, or pick and
choose which to go after more (whoever they can get the most money out of)
limited partnership Correct Ans-can avoid full liability and double taxation, plus they design
how the partnership can be set up
corporation Correct Ans-limited liability-to do this, you separate the ownership from control
of the company via shareholders. Unlimited life, they are seen as a legal person. Double taxation
shareholders Correct Ans-______ fund the business, but aren't involved in the actual
business of the organization
CEO Correct Ans-chief executive officer
CFO Correct Ans-chief financial officer
COO Correct Ans-chief operating officer
CIO Correct Ans-chief information officer
CMO Correct Ans-chief marketing officer
CTO Correct Ans-chief technology officer
