L-NU AA – 23-02-01-18

LYCEUM-NORTHWESTERN UNIVERSITY
Tapuac District, Dagupan City

COLLEGE OF BUSINESS EDUCATION

SEMI FINAL QUIZ – ELEC_FIN1 ENTREPRENEURIAL MANAGEMENT

2nd Semester, AY 2019 – 2020
Prepared by: Jolina A. Reyes

Name:_____________________________________
Score:____________________

Student No.: _______________ Year/Section:___________ Date: ____________

I. MULTIPLE CHOICE. Choose the best answer from the choices and place your
answer in the box provided. Write in CAPITAL LETTERS and strictly “NO
ERASURES”. (HL)

1. 6. 11. 16.
2. 7. 12. 17.
3. 8. 13. 18.
4. 9. 14. 19.
5. 10. 15. 20

1. Items that can qualify for patent protection include all of the following except

a. machines. c. processes.

b. products. d. ideas.

2. Design patent protection lasts for _____ years.

a. 10 c. 14

b. 12 d. 20

3. Patents that are not design patents have _____ years of protection.

a. l5 c. 22

b. 20 d. 25

4. A patent gives the holder a temporary

a. profit. c. monopoly.

b. oligopoly. d. specification.

5. There are two parts to a patent application, claims and .

a. percentage c. value

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b. specification d. integration

6. The two parts to a patent application are specification, and .

a. claims c. value

b. percentage d. perception

7. The text of a patent application is known as the

a. specification. c. concept.

b. particulars. d. value.

8. The text of a patent application is known as the

a. presentable data. c. context.

b. claim. d. specification.

9. That part of a patent application which identifies the features that are protected are known as

the

a. particular. c. identification.

b. claim. d. essence.

10. That part of a patent application which identifies the features that are protected are known

as the

a. specification. c. claim.

b. illustration. d. concept.

11. If an entrepreneur concludes that the innovation will withstand any legal challenge, a patent

should be

a. dropped. c. integrated.

b. pursued. d. obfuscated

12. To effectively pursue a patent, experts recommend that the entrepreneur

a. handle all matters personally.

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b. prepare a realistic budget for infringement.

c. fill out a preprinted form obtained from a patent office.

d. sue as quickly as possible.

13. The specification section of a patent application should include all of the following except

a. an introduction. c. a summary of invention.

b. examples and/or experimental results. d. a budget for handling infringement.

14. In order to obtain a patent, an application should be filed with

a. the Office of Government Publications.

b. the Patent and Trademark Office of the Department of Commerce.

c. Government Accounting Office.

d. the United States Patent Office.

15. What percentage of issued patents is commercially valuable?

a. a very small percentage c. 40 percent

b. around 20 percent d. 75 percent

16. A person who loses an infringement battle in court may have to pay

a. extra legal fees.

b. damages of up to five times the actual amount.

c. higher profits due to the infringement.

d. the taxpayers back.

17. An infringement budget deals with

a. legal battles. c. the outside molding of a building.

b. government bribes. d. advertising expenditures.

18. The owner of the copyright may do all of the following except

a. reproduce the work. c. perform the work publicly.

b. sell the rights for a period of 200 years. d. display the work publicly.

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This edition is intended for use outside of the U.S. only, with content that may be different from

the U.S. Edition. This may not be resold,

copied, or distributed without the prior consent of the publisher.

19. Anyone who violates an author’s exclusive rights under a copyright is liable for:

a. a prison term.

b. infringement.

c. a monetary payment equal to proven damages.

d. two times annual sales.

20. For the author of creative material to obtain a copyright, the material must be in _____ form.

a. nontangible c. tangible

b. technical d. commercial

II - MODIFIED TRUE OR FALSE. In the space provided write True if the

statement is true and if the statement is false, underline the word/s that make the
statement false and modify to make the statement correct.

____________1. Entrepreneurs should be knowledgeable about certain legal concepts that

affect their business venture.

____________2. Laws governing intellectual property rights include copyrights, trademarks, and
leases.

____________3. A patent is an intellectual property right.

____________4. Design patents last for 20 years.

____________5. Patents eventually expire.

____________6. The patent process is not complex, and does not require careful planning.

____________7. The two parts of a patent application are specification and claims.

____________8. The object of a patent is to provide the holder with a temporary monopoly on
his or her innovation.

____________9. A copyright provides exclusive rights to creative individuals for the protection
of their artistic productions.

____________10. Works created and copyrighted after January 1, 1978, are protected for the
life of the author plus 70years.

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