Mann_BLRB 9_TB_Ch41

Business Law and the Regulation of Business

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Chapter 41—Intellectual Property TRUE/FALSE 1. Misappropriation of a trade secret is the wrongful use of a trade secret. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 2. Infringement is the unauthorized use of a trademark of another or use of a substantially indistinguish- able mark. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 3. Electronic surveillance for the purpose of acquiring trade secrets is permissible under the law of unfair competition. ANS: F TOP: AICPA BB-Legal MSC: AACSB Analytic 4. The characters and the names of a television show may be registered as collective marks. ANS: F TOP: AICPA BB-Legal MSC: AACSB Analytic 5. For a mark to be protected under federal law, it must be registered with the Patent and Trademark Office. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 6. One way of keeping a trade secret is to obtain a patent on it. ANS: F TOP: AICPA BB-Legal MSC: AACSB Analytic 7. An employee may quit and then use information he learned at the company to compete with the com- pany, unless there was some unfair competition or trade secret involved. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 8. While employed, an employee who has no restrictive employment contract with his employer may di- vulge secrets to a competitor. ANS: F TOP: AICPA BB-Legal MSC: AACSB Analytic 9. Some businesses choose not to obtain a patent because it provides protection for only a limited time. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 10. The "Good Housekeeping Seal of Approval" is an example of a service mark. ANS: F TOP: AICPA BB-Legal MSC: AACSB Analytic 11. A copyright would protect a photograph. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic
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12. Georgia's company may lawfully discover Samantha's company's trade secrets if Samantha's company fails to take reasonable precautions to protect their trade secrets. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 13. Copyright infringement may be unintentional. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 14. A patent lasts for the same period of time as a copyright. ANS: F TOP: AICPA BB-Legal MSC: AACSB Analytic 15. A patent last for life, while a copyright ends after 50 years. ANS: F TOP: AICPA BB-Legal MSC: AACSB Analytic 16. A patent may be renewed. ANS: F TOP: AICPA BB-Legal MSC: AACSB Analytic 17. A person may misappropriate a trade secret by unintentionally discovering it. ANS: F TOP: AICPA BB-Legal MSC: AACSB Analytic 18. The Economic Espionage Act of 1996 prohibits the theft of trade secrets and provides criminal penal- ties for violations. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 19. Knowing and intentional use of a counterfeit mark can be a criminal offense. ANS: T TOP: AICPA BB-Legal MSC: AACSB Analytic 20. The Lanham Act recognizes five types of trade symbols or marks. ANS: F
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Mann_BLRB 9_TB_Ch41 - Chapter 41-Intellectual Property...

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