BUL 4421- Exam 2 UPDATED ACTUAL Questions and
CORRECT Answers
What are the main types of trademarks, trade secret protection, patents and copyrights
intellectual property?
What is a copyright? the protection of the expression of a creative work
What is the criteria for work to It must be fixed, original and creative
be copyrighted?
What is the defense to a fair-use doctrine
copyright infringement claim?
, How long does copyright last? life of author plus 70 years
When will a copyright be when a work is set out in a tangible medium of expression, is
granted? orginal, and is creative
protection that grants the holder the exclusive right to produce,
What is a patent?
sell, and use the patented object.
a product, process, invention, machine, or plant produced by
What does a patent protect?
asexual reproduction
The subject matter must be:
patentable
What is/are the criteria to get
novel
patent protections?
useful
nonobvious
How long does a patent last? 20 years
a process, product, method of operation, or compilation of
What is a trade secret? information that gives a businessperson an advantage over his or
her competitors
How long do trade secret Forever as long as you keep the test
protections last?
By the common law from unlawful appropriation by competitors
How are trade secrets
as long as it kept secret and consists of elements not generally
protected?
known in the trade.
a distinctive mark, word, design, picture, or arrangement used
What is a trademark? with a product that helps consumers identify the product with the
producer.
How is the intrastate trademark protected under state common law
protected?
How is the Interstate trademark the trademark must be registered with the US Patent and
registered? Trademark Office (USPTO).
Service mark A mark used in conjunction with a service. ex. AT&T
A mark affixed to a good, its packaging, or its labeling, such as
What is a product trademark?
the Nike "swoosh."
A mark identifying the producers as belonging to a larger group,
What is a collective mark?
such as a trade union
a mark licensed by a group that has established certain criteria
What is a certification mark?
for use of the mark. ex. "Good Housekeeping Seal of Approval."
What is a debtor? an entity that owes money to another entity
What are creditors? entities to which a debtor owes money
What are insolvent debtors? debtors who cannot pay their debts in a timely fashion
They provide protection to creditors
What are the goals of
They provide opportunities for debtors to gain a fresh financial
banktrupcy law?
start
How does state law affect They apply to banktrupcy cases in the sense that state laws
bankruptcy proceedings? regarding debtor's property and creditor claims may apply
What is the chapter 7 liquidation proceedings sometimes called straight banktrupcy
banktrupcy cover?
CORRECT Answers
What are the main types of trademarks, trade secret protection, patents and copyrights
intellectual property?
What is a copyright? the protection of the expression of a creative work
What is the criteria for work to It must be fixed, original and creative
be copyrighted?
What is the defense to a fair-use doctrine
copyright infringement claim?
, How long does copyright last? life of author plus 70 years
When will a copyright be when a work is set out in a tangible medium of expression, is
granted? orginal, and is creative
protection that grants the holder the exclusive right to produce,
What is a patent?
sell, and use the patented object.
a product, process, invention, machine, or plant produced by
What does a patent protect?
asexual reproduction
The subject matter must be:
patentable
What is/are the criteria to get
novel
patent protections?
useful
nonobvious
How long does a patent last? 20 years
a process, product, method of operation, or compilation of
What is a trade secret? information that gives a businessperson an advantage over his or
her competitors
How long do trade secret Forever as long as you keep the test
protections last?
By the common law from unlawful appropriation by competitors
How are trade secrets
as long as it kept secret and consists of elements not generally
protected?
known in the trade.
a distinctive mark, word, design, picture, or arrangement used
What is a trademark? with a product that helps consumers identify the product with the
producer.
How is the intrastate trademark protected under state common law
protected?
How is the Interstate trademark the trademark must be registered with the US Patent and
registered? Trademark Office (USPTO).
Service mark A mark used in conjunction with a service. ex. AT&T
A mark affixed to a good, its packaging, or its labeling, such as
What is a product trademark?
the Nike "swoosh."
A mark identifying the producers as belonging to a larger group,
What is a collective mark?
such as a trade union
a mark licensed by a group that has established certain criteria
What is a certification mark?
for use of the mark. ex. "Good Housekeeping Seal of Approval."
What is a debtor? an entity that owes money to another entity
What are creditors? entities to which a debtor owes money
What are insolvent debtors? debtors who cannot pay their debts in a timely fashion
They provide protection to creditors
What are the goals of
They provide opportunities for debtors to gain a fresh financial
banktrupcy law?
start
How does state law affect They apply to banktrupcy cases in the sense that state laws
bankruptcy proceedings? regarding debtor's property and creditor claims may apply
What is the chapter 7 liquidation proceedings sometimes called straight banktrupcy
banktrupcy cover?
