Entrepreneurship and Small Business Management

Chapter 8: The Legal Environment

Practice Test

1
_____________ is the group of laws that regulate the ownership and use of creative works.
A)Intellectual property law
B)Trademark registration
C)Copyright law
D)Patent law
2
The____________ comprises all intellectual property whose protection has expired.
A)Patent and Trademark Office (PTO)
B)Library of Congress
C)public domain
D)Copyright Office
3
A patent lasts for _________ years.
A)17
B)24
C)12
D)21
4
_____________ is the status of an invention between the time an application has been filed and when it is issued or rejected.
A)Patent search
B)Patent pending
C)Patent infringement
D)Patent application
5
A__________ is a word, symbol, design, or color that a business uses to identify itself or something it sells.
A)copyright
B)trademark
C)patent
D)service mark
6
A ___________ is a certificate showing you have the needed education and training to do a job.
A)license
B)permit
C)contract
D)document
7
A/An _________ is an unwritten contract.
A)license
B)verbal agreement
C)oral contract
D)permit
8
Laws that relate to the actual construction of your facility are called ________.
A)zoning laws
B)building codes
C)environmental restrictions
D)structural requirements
9
A__________is a contract to use a facility for a specific period of time.
A)purchase order
B)permit
C)license
D)lease
10
The____________is the agency charged with protecting the rights of employees.
A)Equal Employment Opportunities Commission (EEOC)
B)Better Business Bureau
C)Department of Labor
D)Justice Department
11
OSHA requires employers to look for ___________ areas in their workplace.
A)hazardous
B)secure
C)healthful
D)safe
12
____________ is the charging of different prices for the same product or service in different markets or to different customers.
A)Price tagging
B)Price discrimination
C)Market segmenting
D)Discount pricing
13
Virtually everything you buy comes with a/an ____________ warranty of merchantability.
A)implied
B)fair packaging
C)written
D)uniform
14
If you manufacture a product to sell to consumers, you must include ____________ .
A)clear instructions
B)labeling
C)recall information
D)patent information
15
Federal and state withholding income taxes payroll taxes are based on a percentage of________ pay.
A)take-home
B)net
C)gross
D)annual
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