Entrep Midterm Exam

Patent class that protects the way something looks as opposed to the way it operates.

• utility patent

• design patent

• plant patent

• industrial patent

Also known as Secrecy or Non-disclosure agreement and it specifically provides that a signer the idea to anyone.

• security agreement

• memorandum of agreement

• written contract

• confidentiality agreement

It is a trademark that is usually a common word that is used in a meaningless context.

(a)  

TRUE or FALSE: It is about coming up with innovative ideas and converting them into value-creating profitable business activities.

• TRUE

• FALSE

It represents the creative process of generating, developing, and communicating new ideas, where an idea is understood as a basic element of thought that can be either visual, concrete, or abstract.

• ideation

• innovation

• creativity

• gap analysis

The term of protection of works under copyright covers the lifetime of the author and how many years after the author's death.

• 65 years

• 60 years

• 50 years

• 55 years

A pricing method in which the fixed amount or the percentage of the cost of the product is added to the product’s price to get the selling price of the product

• Mark-up pricing

• Cost-plus pricing

• Demand-based pricing

• Competitive pricing

Meaning of the acronym IPO.

It is an government agency attached to the Department of Trade and Industry in charge of registration of IP and conflict resolution of IP rights in the Philippines.

(a)  

The following are the Advantages of Setting up as a Franchise except one;

• No industry expertise required

• Lower risk method of market entry

• Initial fees + royalties & commissions

• Buying power of franchisor

The following are examples of which Trademark Distinctiveness?

escalator, granola, frisbee, hula-hoop

• fanciful mark

• descriptive mark

• suggestive mark

• generic mark