Business Ownership & Registration Review

Physical location of the business is a factor which should influence the type of ownership chosen.

• True

• False

Which of the following forms boards to act as governing bodies and is the most complicated form of business?

• Partnership

• Sole proprietorship

• Corporation

• Franchise

Which of the following is the right or license to sell a company's product or service at a designated location?

• Sole proprietorship

• Corporation

• Franchise

• Partnership

A is a legal agreement between two or more people and is the least common form of business.

• Franchise

• Partnership

• Corporation

• Sole Proprietorship

Which of the following is owned and operated by one individual?

• Franchise

• Partnership

• Corporation

• Sole Proprietor

Naming a business can require registration and approval from the government

• True

• False

Protecting a business and its ideas include the following:

• patent

• copyrights

• inventions

• trademarks

When protecting a business's ideas, it is very important to make sure inventions or ideas are not sold by others as their own.

• True

• False

Are words, symbols, names or devices used to specify goods and differentiate one good from others

• copyright

• trademark

• patent

• none of the above

Patents are the grants of intellectual property rights to the inventor.

• True

• False