Intellectual Property

Question 1

Patent

Answer 1

A government grant that gives an inventor exclusive rights to their invention for a limited time, usually 20 years. Preventing others from making, using, or selling the invention without permission

Question 2

Copyright

Answer 2

Protects original works of authorship from being copied or distributed without the creator’s consent. Lasts for the creator’s life plus 70 years

Question 3

Trademark

Answer 3

A recognizable symbol, word, or other identifier that distinguishes a product or service from others. Provides exclusive rights to the owner

Question 4

Trade Secret

Answer 4

Confidential business information that provides a competitive advantage. Protection lasts as long as the information remains secret

Question 5

Licensing

Answer 5

A legal agreement allowing one party to use another’s intellectual property under specific conditions

Question 6

Fair Use

Answer 6

A legal doctrine permitting limited use of copyrighted material without permission for purposes like criticism, comment, news reporting, teaching, or research

Question 7

Infringement

Answer 7

The violation of intellectual property rights, such as using a patented invention, copyrighted work, or trademark without authorization

Question 8

Patent Pending

Answer 8

A status indicating that a patent application has been filed but not yet granted

Question 9

Collective Mark

Answer 9

A trademark or service mark used by members of a collective group or organization to indicate membership

Question 10

Certification Mark

Answer 10

A trademark used to certify the quality or characteristics of goods or services

Question 11

Non-Disclosure Agreement

Answer 11

A legal contract where one party agrees not to disclose confidential information shared by another party

Question 12

Intellectual Property

Answer 12

Creations of the mind protected by law, including patents, copyrights, trademarks, and trade secrets

Question 13

Assignment

Answer 13

The transfer of rights or property from one party to another, such as assigning a patent or trademark to someone else

Question 14

Joint Ownership

Answer 14

When two or more parties hold ownership rights to intellectual property, each with the ability to exploit the property

Question 15

Exclusive Rights

Answer 15

Rights granted to the holder of intellectual property that prevent others from using the property without permission

Question 16

Royalty

Answer 16

A payment made to the owner of the intellectual property for the use of that property, often a percentage of revenue