BULE 303 Exam 4 questions with
verified answers already passed
certification mark - correct answer ✔✔A mark used by one or more persons, other than the
owner, to certify the region, materials, mode of manufacture, quality, or other characteristic of
specific goods or services.
collective mark - correct answer ✔✔A mark used by members of a cooperative, association,
union, or other organization to certify the region, materials, mode of manufacture, quality, or
other characteristic of specific goods or services.
copyright - correct answer ✔✔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.
intellectual property - correct answer ✔✔Property resulting from intellectual and creative
processes.
license - correct answer ✔✔An agreement by the owner of intellectual property to permit
another to use a trademark, copyright, patent, or trade secret for certain limited purposes. A
revocable right or privilege of a person to come on another person's land.
patent - correct answer ✔✔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.
service mark - correct answer ✔✔A trademark that is used to distinguish the services (rather
than the products) of one person or company from those of another.
, trade dress - correct answer ✔✔The image and overall appearance ("look and feel") of a
product that is protected by trademark law.
trademark - correct answer ✔✔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.
trade name - correct answer ✔✔A name that a business uses to identify itself and its brand. A
trade name that is the same as the company's trademarked product is protected as a
trademark, and unique trade names are protected under the common law.
trade secret - correct answer ✔✔A formula, device, idea, process, or other information used in
a business that gives the owner a competitive advantage in the marketplace.
alien corporation - correct answer ✔✔A designation in the United States for a corporation
formed in another country but doing business in the United States.
articles of incorporation - correct answer ✔✔The document containing basic information about
the corporation that is filed with the appropriate governmental agency, usually the secretary of
state, when a business is incorporated.
benefit corporation - correct answer ✔✔A for~profit corporation that seeks to have a material
positive impact on society and the environment. This new business form is available by statute
in a growing number of states.
bond - correct answer ✔✔A security that evidences a corporate (or government) debt.
business judgment rule - correct answer ✔✔A rule that immunizes corporate management
from liability for decisions that result in corporate losses or damages if the decision~makers
took reasonable steps to become informed, had a rational basis for their decisions, and did not
have a contract of interest with the corporation.
verified answers already passed
certification mark - correct answer ✔✔A mark used by one or more persons, other than the
owner, to certify the region, materials, mode of manufacture, quality, or other characteristic of
specific goods or services.
collective mark - correct answer ✔✔A mark used by members of a cooperative, association,
union, or other organization to certify the region, materials, mode of manufacture, quality, or
other characteristic of specific goods or services.
copyright - correct answer ✔✔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.
intellectual property - correct answer ✔✔Property resulting from intellectual and creative
processes.
license - correct answer ✔✔An agreement by the owner of intellectual property to permit
another to use a trademark, copyright, patent, or trade secret for certain limited purposes. A
revocable right or privilege of a person to come on another person's land.
patent - correct answer ✔✔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.
service mark - correct answer ✔✔A trademark that is used to distinguish the services (rather
than the products) of one person or company from those of another.
, trade dress - correct answer ✔✔The image and overall appearance ("look and feel") of a
product that is protected by trademark law.
trademark - correct answer ✔✔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.
trade name - correct answer ✔✔A name that a business uses to identify itself and its brand. A
trade name that is the same as the company's trademarked product is protected as a
trademark, and unique trade names are protected under the common law.
trade secret - correct answer ✔✔A formula, device, idea, process, or other information used in
a business that gives the owner a competitive advantage in the marketplace.
alien corporation - correct answer ✔✔A designation in the United States for a corporation
formed in another country but doing business in the United States.
articles of incorporation - correct answer ✔✔The document containing basic information about
the corporation that is filed with the appropriate governmental agency, usually the secretary of
state, when a business is incorporated.
benefit corporation - correct answer ✔✔A for~profit corporation that seeks to have a material
positive impact on society and the environment. This new business form is available by statute
in a growing number of states.
bond - correct answer ✔✔A security that evidences a corporate (or government) debt.
business judgment rule - correct answer ✔✔A rule that immunizes corporate management
from liability for decisions that result in corporate losses or damages if the decision~makers
took reasonable steps to become informed, had a rational basis for their decisions, and did not
have a contract of interest with the corporation.
