BLAW 310 FINAL EXAM FRED DAVIS QUESTIONS
WITH VERIFIED ACCURATE ANSWERS
owner of intellectual property rights - Answers -who grants a license?
trademark - Answers -A distinctive word, symbol, or design that identifies the
manufacturer as the source of particular goods and distinguishes its products from
those made or sold by others
10 - Answers -trademarks are unlimited as long as in use or must be renewed every
______ years
service mark - Answers -A trademark that is used to distinguish the services (rather
than the products) of one person or company from those of another
example: state farm jingle
trade dress - Answers -The image and overall appearance ("look and feel") of a product
that is protected by trademark law
trade name - Answers -A name that a business uses to identify itself and its brand
as a trademark and unique trade names are protected under the common law -
Answers -how is a trade name that is the same as the company's trademark product
protected?
trade secret - Answers -A formula, device, idea, process, or other information used in a
business that gives the owner a competitive advantage in the marketplace
patent - Answers -A property right granted by the federal government that gives an
inventor an exclusive right to make, use, sell, or offer to sell an invention in the United
States for a limited time
copyright - Answers -The exclusive right of an author or originator of a literary or artistic
production to publish, print, sell, or otherwise use that production for a statutory period
of time
no - Answers -do you have to file for a trade secret?
license - Answers -agreement by the owner of intellectual property to permit another to
use a trademark, copyright, patent, or trade secret for certain limited purposes
licensor - Answers -owns intellectual property
, licensee - Answers -party obtaining license
novel, useful, and not obvious in light of current technology - Answers -what are the
requirements for a patent?
14 years - Answers -How long do design patents last?
Fred Davis passing out a Wall Street journal article - Answers -what is an example of
an exemption of fair use?
form of expression - Answers -what is needed for a copyright?
first sale doctrine - Answers -provides that the owner of a particular copy or phono
record lawfully made under the copyright act or any person authorized by such owner,
os entitled, without the authority of the copyright owner, to sell or otherwise dispose of
the possession of that copy or phono record
example: selling a book to a friend (don't have to give cut to author)
ASCAP and BMI - Answers -performance right societies that collect royalties for artists
to give right of public performance
$150,000 which is minimal compared to the cost of complying - Answers -what is the
cost in penalties per song if you copy songs?
willfull violation - Answers -blatant violation
creditor - Answers -also known as the lender, obligee, mortgagee
a security interest - Answers -the bank doesn't own mortgage but has what?
debtor - Answers -also known as obligor or mortgagor
debtors default - Answers -concern is that you will default on the loan
liens - Answers -help with the concern of debtors default
underwater - Answers -When you owe more on a home than it is worth
example: 2008 financial crisis (willful default)
upside down - Answers -When you owe more than the car is worth
short sale - Answers -when bank allows owner to sell his house for less amount than
his mortgage
WITH VERIFIED ACCURATE ANSWERS
owner of intellectual property rights - Answers -who grants a license?
trademark - Answers -A distinctive word, symbol, or design that identifies the
manufacturer as the source of particular goods and distinguishes its products from
those made or sold by others
10 - Answers -trademarks are unlimited as long as in use or must be renewed every
______ years
service mark - Answers -A trademark that is used to distinguish the services (rather
than the products) of one person or company from those of another
example: state farm jingle
trade dress - Answers -The image and overall appearance ("look and feel") of a product
that is protected by trademark law
trade name - Answers -A name that a business uses to identify itself and its brand
as a trademark and unique trade names are protected under the common law -
Answers -how is a trade name that is the same as the company's trademark product
protected?
trade secret - Answers -A formula, device, idea, process, or other information used in a
business that gives the owner a competitive advantage in the marketplace
patent - Answers -A property right granted by the federal government that gives an
inventor an exclusive right to make, use, sell, or offer to sell an invention in the United
States for a limited time
copyright - Answers -The exclusive right of an author or originator of a literary or artistic
production to publish, print, sell, or otherwise use that production for a statutory period
of time
no - Answers -do you have to file for a trade secret?
license - Answers -agreement by the owner of intellectual property to permit another to
use a trademark, copyright, patent, or trade secret for certain limited purposes
licensor - Answers -owns intellectual property
, licensee - Answers -party obtaining license
novel, useful, and not obvious in light of current technology - Answers -what are the
requirements for a patent?
14 years - Answers -How long do design patents last?
Fred Davis passing out a Wall Street journal article - Answers -what is an example of
an exemption of fair use?
form of expression - Answers -what is needed for a copyright?
first sale doctrine - Answers -provides that the owner of a particular copy or phono
record lawfully made under the copyright act or any person authorized by such owner,
os entitled, without the authority of the copyright owner, to sell or otherwise dispose of
the possession of that copy or phono record
example: selling a book to a friend (don't have to give cut to author)
ASCAP and BMI - Answers -performance right societies that collect royalties for artists
to give right of public performance
$150,000 which is minimal compared to the cost of complying - Answers -what is the
cost in penalties per song if you copy songs?
willfull violation - Answers -blatant violation
creditor - Answers -also known as the lender, obligee, mortgagee
a security interest - Answers -the bank doesn't own mortgage but has what?
debtor - Answers -also known as obligor or mortgagor
debtors default - Answers -concern is that you will default on the loan
liens - Answers -help with the concern of debtors default
underwater - Answers -When you owe more on a home than it is worth
example: 2008 financial crisis (willful default)
upside down - Answers -When you owe more than the car is worth
short sale - Answers -when bank allows owner to sell his house for less amount than
his mortgage
