Briefly define patent, copyright, and trademark, and explain how long they last
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Patent - A patent is a federal right of exclusive use which may be granted to inventors. Patents may be of three types: utility, design, and plant. Utility patents may protect processes, machines, or compositions of matter. Patentable creations must be novel, nonobvious, and useful. A patent gives the owner the exclusive right to make, use, license, sell, or assign the patent for a period of 20 years from the date of filing the application for the patent (14 years from the date of issuance for a design patent).
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Copyright - A copyright is a federal right which protects artistic or literary works including literature, music, plays, photographs, motion pictures, recordings, and to some extent computer programs. Copyright protects the particular tangible expression of an idea, but not the underlying idea or method of operation. The federal act allows copyright without registration but will limit recourse if the work was not registered. The duration of copyright is the life of the author plus 70 years. For a corporate owner, copyright lasts 95 years from publication or 120 years from creation.
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Trademark - A trademark is a "mark," or a combination of words and symbols, used in conjunction with a trade or business which distinguishes that trade or business and the goods or services thereof from those of others. The trademark is valid for ten years, but can be renewed for an unlimited number of terms as long as the mark is still being used. If the mark or name becomes a generic term, trademark protection of the mark or name is lost.
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Viral marketing is:
A) the use of non-traditional media to promote a company's website B) a form of database marketing C) preparing a marketing message that is in some way passed on from one individual to another through digital means D) using a virus to spread a marketing message
Retailers with less sophisticated forecasting and information systems tend to use a(n)
A. cross check logistic strategy. B. influential logistic strategy. C. push supply chain. D. cost efficient logistic strategy. E. pull supply chain.
In a journal entry, debits are always indented
Indicate whether the statement is true or false
Beta Corp., a gaming software company, recently launched a new game. The target audience identified by the company was the age group of 12–18 years. The advertising and marketing strategies were designed exclusively to target this age group. However, sales data revealed individuals who belong to the age bracket 18–25 years were the ones who bought the game. The managers at Beta Corp. decided to redesign their marketing strategies to position the game as a product that people of all ages would enjoy. The company's decision to modify its product positioning demonstrates which of the following strategies?
A. downsizing B. emergent C. deliberate D. concurrency control E. unrealized