WorksheetsEntrep Midterm Exam
Total questions: 21
Worksheet time: 13mins
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
A word, name, symbol, or device used by the manufacturer or merchants to identify their goods & distinguish them from those made or sold by others. It can also be slogans, mascots, taglines, or symbols of your business.
(a)
Based on our discussion: Choose 3 ways to develop business ideas.
Be aware of everything
Questioning assumptions
Distinctive image & Brand
Improving an existing product
TRUE or FALSE: The most common type of business format is ‘franchise’. The franchisee grants license to the franchisor to use their business idea.
TRUE
FALSE
Patent class that protects the actual mechanical, chemical, computer, or process design of an invention.
utility patent
design patent
plant patent
industrial patent
A pricing method in which some percentage of desired profit margins are added to the cost of the product to obtain the final price.
Mark-up pricing
Cost-based pricing
Demand-based pricing
Competitive pricing
What are the 3 components of creativity?
Good project management
Expertise
Creative Thinking Skills
Motivation
TRUE or FALSE: The best ideas have high barriers to entry. If an idea is good but not patentable, smaller competition could overrun you overnight.
TRUE
FALSE
TRUE or FALSE: The success of demand-based pricing depends on the ability of marketers to analyze the demand.
TRUE
FALSE
The following are examples of which Trademark Distinctiveness?
KitchenAid, Netflix, Facebook, Shopify
fanciful mark
descriptive mark
suggestive mark
generic mark
Also known as Psychological Pricing.
price lining
skimming
prestige pricing
odd-even pricing
It protects the creative work of composers, authors/writers/ artists, film makers, and others.
(a)
