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Exam 15: Law of Intellectual Property Rights Licensing

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Question 1

Multiple Choice

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A clause in an exclusive licensing agreement that provides benchmarks for production and sales, the amount of monies to be expended by the licensee and minimum royalty levels is known as a:

A) Best efforts clause
B) Timetable clause
C) Benchmark clause
D) Quota clause
E) None of the above

F) C) and D)
G) All of the above

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Question 2

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As long as a trademark does not become generic, it may be perpetually renewed.

A) True
B) False

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Question 3

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The Agreement on Trade-Related Aspects of Intellectual Property (TRIPS) is enforced under the auspices of the World Intellectual Property Organization (WIPO).

The European Union has the most restrictive intellectual property law in the world.

Host country anti-trust, technology transfer, and consumer protection laws can usually be avoided through contractual agreement.

Computer information transactions are governed by UCITA.

Trade secrets may be protected perpetually in all circumstances.

The importation of gray market goods is closely monitored by the Customs Service.

A third party that provides a service that allows a licensee to avoid restrictions found in its patent grant (license) is guilty of "induced infringement."

The Rome Act of 1928 recognized the moral rights of authors to object to any distortion or other modification of the work.

EU law is generally silent on licensing agreements that include territorial restrictions on where a licensee may sell product.

In the United Sates, a licensee has the right to sue third parties for patent infringement pertaining to the licensed property.

The compensation paid to the owner of intellectual property by a licensee is known as:

In the U.S., a patent confers on its owner the exclusive right to manufacture, use, and sell the patented product or process within the United States for a period of:

The Berne Convention firmly established what types of literary and artistic works are to be protected by signatory countries.

_________ protects words, names, and other symbols that are used to identify a company's goods and to distinguish them from those manufactured by others:

A _________ in a licensing agreement will often prohibit the use of know-how after the termination of the term of the contract:

The U.S. Supreme Court in Brulotte v. Thys Co. held that an agreement that extends royalties beyond the life of a patent is enforceable.

The Chinese Regulations Governing Contracts for the Importation of Technology is more favorable for licensors than licensees.

Choose three clauses in licensing contracts that are likely to be closely scrutinized by governmental authorities. Describe the function of each.