Intellectual Property Quiz

What does a trademark provide exclusive rights to?

• A creative work

• A contractual agreement

• A word, symbol, or emblem

• A physical resource

Copyright gives the exclusive right to benefit from which of the following?

• A company’s goodwill

• A creative work

• A business transaction

• A brand name

Which of the following best describes intangible assets?

• Assets that represent contractual rights

• Assets like machinery and buildings

• Assets that are consumed over time

• Assets with a defined physical form

Which of the following is considered a natural resource?

• Patents

• Trademarks

• Timber tracts and mineral deposits

• Office buildings

Goodwill is best described as:

• The difference between purchase price and the fair value of net identifiable assets

• A company’s brand logo

• The cost of acquiring a patent

• The total revenue a company earns

Depreciation refers to:

• The allocation of cost for intangible assets

• The decrease in value of physical assets over time

• The process of selling assets at a lower price

• The exclusive right to a creative work

Amortization is the allocation of cost for which type of assets?

• Tangible assets

• Intangible assets

• Natural resources

• Equipment and machinery