Intellectual Property

Understanding Intellectual Property

Chapter Quiz

You answered 7 of 7 questions correctly.

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Question 1 of 7

Under copyright law if you have a database of your client contact information, what is considered protected?


only individual confidential data records


combination of phone number and client contact name

 only the entire database not individual data

Correct


neither the data nor the database is protected

Question 2 of 7

If in a work-for-hire agreement, you (the contractor) create something, who will own the rights to be
considered the author?
  As a contractor, it will be the party that is paying you to do the work.

Correct


As an contractor, you always are considered the author.


As an employee, you are always considered the author.


As a contractor, both parties will have joint authorship rights.

Question 3 of 7

If you are the creator of an asset protected by copyright law, which statement is true?


If you are authoring for a company, then the copyright is valid for 70 years after your death.

 If you are not authoring for a company, then the copyright is valid for 70 years after your death.

Correct


If you are not authoring for a company, then the copyright expires upon your death.
 
If you are authoring for a company, then the copyright never expires.

Question 4 of 7

Public domain is defined by assets not protected by copyright law?

 TRUE

Correct


FALSE

Question 5 of 7

In order to sue for copyright infringement, you must first do what?

 have a registered copyright

Correct


you can sue before you register the copyright


have all your confidentiality agreements prepared to be signed
 
register for a trademark first

Question 6 of 7

Which statement is most accurate?

 Under copyright law, companies can be liable for all infractions even if they are not aware of them.

Correct


Even if you know that an infraction has taken place, you are not liable if a contractor performed the
infraction.


Under copyright law, owners of companies cannot be held personally liable for infractions.


Under copyright law, companies are never liable for infractions if no one in the company is aware of
them.

Question 7 of 7

DMCA is an abbreviation for what federal act?

 
the Design Materials Copyright Act


the Document Management Copyright Act


the Digital Materials Copyright Act

 the Digital Millennium Copyright Act

Correct

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Question 1 of 10

What is not a good example of a trademark?


a slogan


a brand name
 
a color

 a jump shot

Correct

Question 2 of 10

Copyrights cover a work of art and trademarks cover a brand.

 TRUE

Correct


FALSE

Question 3 of 10

In trademark terms, "genericide" means

 the trademark name has lost its distinctiveness.

Correct


the product that you have trademarked has not been successful.


 the trademark name is no longer valid because you have changed the product name.


the trademark name is not unique enough to be protected.

Question 4 of 10

Before adopting a trademark, what is the first thing that you should do?


Look for a similar trademark and copy it closely.


Determine if this trademark will look good on social media.

 Determine if you can adopt this trademark without infringing upon any prior existing use of the
trademark.

Correct


Register the trademark.

Question 5 of 10

What .gov site provides a searchable database of registered trademarks and provides forms for registering your
own trademark?
 
USPS.gov


PTOUS.cov

 USPTO.gov

Correct


USPA.gov

Question 6 of 10

What protocol is in place that allows for trademarks filed in the US to be recognized by some international
countries?


International Trademark Act Protocol

 Madrid Protocol

Correct


 EU Trademark Protocol


International Trademark Protocol

Question 7 of 10

The broadest trademark symbol is the use of what?

 words

Correct


logo only


a word in a stylized font


words and logo

Question 8 of 10

How many trademark extensions can you file?


 1


10


as many as you can afford

 5

Correct

Question 9 of 10

In terms of trademarks, infringement


adds value to your trademark.

 is an analysis of whether there's a likelihood of confusion between two different marks.

Correct


is a good thing.


 is using a trademark without the owner's permission.

Question 10 of 10

What is an injunction?


Something usually issued by the USPTO.


Something that happens when you get a shot.


The best way to take a trademark away from someone else.

 A requirement from a court that the party infringing on the trademark must stop.

Correct

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Question 1 of 6

How many years is a patent valid?


15
 
5


10

 20

Correct

Question 2 of 6

In how many months does a provisional patent expire?


18


36


24

 12

Correct
Question 3 of 6

What change has been made to the America Invents Act in recent years?


Mobile devices were added to list of patentable inventions.


Two creators can now gain patents on identical inventions if both were created within 12 months of
each other.


The creator of an article is better protected against infringement.

 The first person to file the patent gains the rights versus the first person to come up with the idea.

Correct

Question 4 of 6

If you share your idea with someone before you file the patent, what is a good way to prevent the idea from
being used by the other party?


Get a verbal agreement from the other party that they will not steal your idea.

 Have the other party sign an NDA.

Correct
 
Keep two fingers crossed behind you back as you tell them your secret.


Threaten to sue the other party if they steal your idea.

Question 5 of 6

Which is not a good way to research if a patent already exists for your idea?


Search the US Patent and Trademark Office's online database.


Search Google's online patent database.

 Phone a friend.

Correct


Hire a lawyer to verify that no patent exists.

Question 6 of 6

Which of these is not a good way to keep track of your creation?

 
email notes


keep dated documents on a computer


keep lab notebooks

 leverage the poor man's patent

Correct

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Question 1 of 4

A trade secret is


something that is secret but is of no real value.


is worth its weight in gold.
 
in the name so all trade secrets must have the word "secret" somewhere in the name.

 something that is secret and has value.

Correct

Question 2 of 4

In general, recipes are never protected under the trade secret law.


TRUE

 FALSE

Correct

Question 3 of 4

In order to prove that someone has infringed upon a trade secret, you do not need to


prove it is a secret.

 have the name of the party that is infringing.

Correct
 
prove that you took steps to protect the secret.


show that it has value.

Question 4 of 4

If you are under an NDA and someone who is not under an NDA discloses a trade secret to you, you are still
bound by your NDA to not disclose the trade secret in most cases.


TRUE

 FALSE

Correct

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Question 1 of 2

Rights of publicity usually do not cover


the exploitation of your persona for monetary gain without your permission.
 
the exploitation of your face for monetary gain without your permission.

 your freedom of speech.

Correct


the exploitation of your voice for monetary gain without your permission.

Question 2 of 2

A model release is a waiver to rights-of-publicity laws?

 TRUE

Correct

Understanding Patents: A Deeper Dive

Chapter Quiz

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Question 1 of 2

Which of the these is the only subject matter than is patentable?

 data structures

Incorrect

 electro-magnetic signals

Incorrect
  compositions of matter

Correct


non-functional descriptive material

Question 2 of 2

An inventor comes up with an idea for a self-propelled baseball bat. What attribute(s) must the idea have to be
patentable?


It must be useful, novel, and obvious.

 It must be a an idea for a product that can be sold to the public.

Incorrect

Whether or not the product can be sold to the public is not a consideration in obtaining a patent.

 It must have merit as determined by a patent attorney.

Incorrect

The merit of an idea is not a consideration as to whether or not an idea can be patented.

 It must be useful, novel, and non-obvious.

Correct

Novelty, usefulness, and non-obviousness must all be present for an idea to be patentable.

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Question 1 of 2

In what component of a patent application does the applicant identify the relevance of the invention and the
motivation for coming up with the invention?

 summary

Incorrect

 claims

Incorrect

 background

Correct


abstract

Question 2 of 2

Sue invented a steamer that heats food faster than a microwave. She knows she can sell the steamer worldwide.
Sue is concerned about costs. How should Sue protect her invention in other countries while she begins
marketing her cooker?


Sue should file an international patent application that will protect her invention in any country she
sells in.

 Sue should file a PCT patent application, then determine what countries to file in after WIPO examines
her patent.

Incorrect

It is important to understand that WIPO does not examine patents nor does WIPO approve patents.
Patents are only approved by individual countries.
  Sue should file a patent in the U.S., then file a PCT application to give her time to determine what
countries she should file patents in.

Correct

A PCT application provides a thirty-month window on international patent protection during which she
can test market her steamer.


Sue should file a patent in the U.S., then file a PCT application that will provide her with twenty-year
patent protection all countries.

You answered 2 of 2 questions correctly.

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Question 1 of 2

Infringement on dependent claims is nearly always found even if the independent is not infringed upon.


TRUE

 FALSE

Correct

Question 2 of 2

ABC, Inc. is a large multi-national company with numerous product lines. ABC wants to avoid being sued for
intentional patent infringement. What might ABC, Inc. do to avoid intentional infringement?

 Avoid doing patent searches so they do not become aware of a patent they might infringe.

Correct

Intentional infringement requires actual knowledge of an existing patent. Some companies avoid
"knowing" by not searching.
 
Avoid producing an item based upon an idea that a patent had been applied for but abandoned.


Avoid producing a product when a similar product has a patent pending.


Avoid using risk management techniques when proceeding with product development.

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Question 1 of 1

Mary is working on a new invention she knows is patentable. She is concerned about keeping her invention
secret. What is the only incorrect statement regarding the legal protections available to Mary?

 The information in her patent application will not be published by the USPTO until 18 months after
filing.

Incorrect

 She can request the USPTO not make the information regarding her invention public after her patent is
issued.

Correct

 She can request the USPTO not publish information regarding her patent application at any time while
it is pending.

Incorrect
 
If there are other people working on the invention with her she can utilize a confidentiality agreement.

Copyright for Creatives: Protecting Your

Work
Chapter Quiz

You answered 2 of 2 questions correctly.

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Question 1 of 2

When was the copyright clause incorporated into the United States constitution?


1906


1776


1878

 1787

Correct
Question 2 of 2

Kohel Haver has not registered for a copyright himself.


TRUE

 FALSE

Correct

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Question 1 of 5

What does DMCA stand for?


Digital Management Copyright Act


Department Management Copyright Attribution

 Digital Millennium Copyright Act

Correct


 Digitally Managed Copyright Act

Question 2 of 5

You need to have a copyright credit on your image to protect the copyright.


TRUE

 FALSE

Correct

Question 3 of 5

How soon is copyright ownership attained by the creator?


as soon as the creator registers his copyright


as soon as the government sends them a copyright registration certificate


as soon as the creator signs his creation

 as soon as the pen leaves the paper

Correct
Question 4 of 5

What types of tangible creative expressions (work) can you copyright?


Words or Names

 Photographs, Drawings or Designs, Music or Songs, Sculptures, Story

Correct


Ideas or Concepts

Question 5 of 5

What are the bonuses for registering your copyright?


absolute proof you created the artwork, free access to courts, guaranteed damages up to $150,000 for
willful infringement


legal presumption you created the artwork, free access to courts, guaranteed damages up to $150,000
for willful infringement

 legal presumption you created the artwork, access to courts, presumption of damages up to $150,000
for willful infringement

Correct
You answered 3 of 3 questions correctly.

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Question 1 of 3

When does an individual copyright go into public domain?

 after seventy years

Incorrect

 after a lifetime plus seventy years.

Correct


when it appears in google images


when the creator dies

Question 2 of 3

When does a business copyright go into public domain?

 when the business goes out of business

Incorrect


after seventy years

 after ninety five years

 Correct


If you're Disney, never.

Question 3 of 3

NASA moon landing pictures are public domain because the public paid for them.

 TRUE

Correct


FALSE

You answered 4 of 4 questions correctly.

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Question 1 of 4

Cease and desist letters are a good method to use for those who ignore a reasonable response to copyright
infringement.

 TRUE

Correct


FALSE
Question 2 of 4

DMCA letters are specifically used to respond to web sites who are infringing your copyright and asks them to
remove and cease using the work.

 TRUE

Correct


FALSE

Question 3 of 4

A DMCA Take Down Notice is sent to website hosting companies letting them know of copyright infringement
by their users and requires them to address the problem with the infringing web site and its owner.

 TRUE

Correct


FALSE

Question 4 of 4

How many years do you have to respond to a copyright infringement?

 4 years

Incorrect


1 year
  3 years

Correct


7 years

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Question 1 of 5

If you change a design at least 20%, then it's OK to use it.


TRUE

 FALSE

Correct

Question 2 of 5

If you created it you own the copyright as soon as the pen leaves the paper.

 TRUE

Correct


FALSE
Question 3 of 5

A copyright registration in the United States can be universally enforced globally.


TRUE

 FALSE

Correct

Question 4 of 5

An animal's original creative expression can be owned by the animal who created it.


TRUE

 FALSE

Correct

Question 5 of 5

Just like normal humans, a Zombie's copyright lasts a lifetime plus seventy years.


TRUE

 FALSE

Correct
Leading with Innovation
You answered 2 of 2 questions correctly.

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Question 1 of 2

Which of the following is NOT part of the core logic of innovation?


creation of variety


scaling up of the best ideas


brutal selection from among the many options

 repeating the word innovation again and again

Correct

Question 2 of 2

Why do most organizations often stumble at innovation?


baggage of past success
 
fear of cannibalization

 all of these answers

Correct


an excessive focus on maximizing efficiency

You answered 6 of 6 questions correctly.

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Question 1 of 6

Why is collaborative innovation becoming increasingly necessary?

 all of these answers

Correct


No company can master all of the necessary technologies and stay ahead.


Most products now require an integration of multiple technologies.
 
Rapid pace of technology development.

Question 2 of 6

Which of the following is NOT an element of the “Design Thinking” process?

 focusing on aesthetic beauty above all else

Correct


putting the user at the center


focusing on not just what the user says but also how he or she thinks, behaves, and feels


aiming for “zero distance” between the company and the user

Question 3 of 6

What is the core logic behind the “lean startup” process?


Conduct lots of experiments.
 
Think of the term “lean” as eliminating wasted time, effort, and resources.


Design each experiment to answer a specific question.

 all of these answers

Correct

Question 4 of 6

Which of the following would be a poor approach to foster creativity without risking chaos?

 urging creativity while also severely punishing any failure

Correct


setting up well-defined sandboxes for innovation


investing in deeper understanding of customers’ needs


engaging routinely and actively with young startups
Question 5 of 6

Which of the following would be a BAD idea in a dramatic reimagining of the target customer (e.g., when Apple
launched the PC aimed at individual users)?


Analyze why these customers remain unserved.


Brainstorm business model changes to make them relevant customers.


Identify currently unserved markets/customer segments.

 Ignore eventual profitability.

Correct

Question 6 of 6

What’s the best approach to pursue collaborative innovation?


Cultivate trust while keeping a watchful eye.


 Agree upfront about contributions, ownership, and decision-making.


Partner with people or organizations who bring complementary capabilities.

 all of these answers

Correct

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Question 1 of 5

What is a key element of social innovation?

 all of these answers

Correct


ensuring financial viability for the user as well as your organization


a novel solution to an important but underserved social problem


factoring in how the product or service would be used in real-life contexts
Question 2 of 5

What does frugal innovation (think of Southwest Airlines) refer to?


offering copycat products or services at somewhat lower prices


creating products or services that are cheap and ignoring everything else


acting tough with suppliers and employees to drive the cost down

 designing an ultra-low-cost business model by eliminating “waste” across the entire system

Correct

Question 3 of 5

What must you NOT do when figuring out how to dramatically re-engineer the industry’s value chain?

 Ignore the impact of transforming some activities on other related activities.

Correct


Focus especially on activities with the biggest impact on total cost or delivered customer value.
 
Examine how technology could dramatically transform the entire value chain (or a part of it).


Map out the entire value chain from one end to the other.

Question 4 of 5

How might you dramatically redefine the notion of customer value (e.g., when Microsoft launched Office as an
integrated bundle of key applications)?

 all of these answers

Correct


Look at products and services from the lens of end users.


Assess whether they would prefer a more complete solution.


Examine the possibility of tailoring your offering to each user’s unique needs.

Question 5 of 5

Which of the following is NOT a sensible approach when driving for both consistency as well as innovation?
  Create well-defined sandboxes for experimentation.

Incorrect


Much like a train station, think in terms of a stable platform coupled with dynamic action.

 Switch randomly between consistency and innovation.

Correct

 Set up simple rules for allocation of time between routine tasks and experimentation.

Incorrect

Thinking Creatively
Chapter Quiz

You answered 3 of 3 questions correctly.

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Question 1 of 3

What is an advantage to learning to be creative?

 increased self-confidence

Incorrect


improved quality of health and life

 all of these answers

 Correct


improved problem-solving skills

Question 2 of 3

Fixedness is a cognitive bias that _____.

 limits your ability to see the world around you differently than you're used to

Correct

 really doesn't impact your creative abilities over time

Incorrect


helps you work better with those who see the world like you

 enhances your creative abilities by limiting your mental processes

Incorrect

Question 3 of 3

What is not a criteria for classifying a thought as creative?

 It's popular.

Correct


It's useful.
 
It's new.


It's surprising.

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Question 1 of 7

Task unification is defined as _____.

 the assignment of additional tasks to an existing resource

Correct


bringing two product attributes into harmony with each other


assigning only one function to a product


bringing simplicity to the world of innovation
Question 2 of 7

When applying the multiplication technique, which product attribute should you consider when creating a
table?


color

 all of these answers

Correct


weight


shape

Question 3 of 7

When applying the division technique, after dividing a product or its components, what should you do?


Seek consultation from an R&D specialist.

 Rearrange them back into the product.

Correct
 
Apply a second technique to the product.


Get a pricing quote from a potential manufacturer.

Question 4 of 7

The subtraction technique is defined as the removal of an essential component from a product.


FALSE

 TRUE

Correct

Question 5 of 7

After virtually applying one of the SIT methods to a product, what is a good question to ask?

 Does the concept help people in any way?

Correct


Can this product bring in enough profit within the current fiscal year?
 
Would I buy this product?


Will this product be popular enough with consumers?

Question 6 of 7

What is a Systematic Inventive Thinking pattern?


subtraction


multiplication

 all of these answers

Correct


task unification

Question 7 of 7

The hallmark of the attribute dependency technique is the unrelated nature of a product's parts.
  FALSE

Correct


TRUE

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Question 1 of 3

A key to selecting the best ideas is identifying the most important _____ for your ideas in advance.


cost analysis


people


timeframe

 criteria

Correct

Question 2 of 3

The best creativity workshops are held in rooms with specialized accessories to boost innovative ideas.
  FALSE

Correct


TRUE

Question 3 of 3

Functional diversity means that _____.


team members have different technological skill sets


team members can interchange their team role when asked

 team members come from different parts of the company

Correct


team members should be okay working various times of the day

Critical Roles Consultants Play (and the

Skills You Need to Fill Them)
Chapter Quiz

You answered 1 of 1 question correctly.

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Question 1 of 1

What do good consultants do with their engagement contract?

 Create a summary which outlines the four contract components.

Correct

This is the recommended action provided in the course to help ensure interested parties all understand
the contract.

 Write a critique for the contract manager.

Incorrect

Writing a critique of a contract, unless specifically asked to do so, is not typically a smart customer
relationship minded action!


Uses the contract to determine how to construct consulting deliverables.


Files it, as the real job description is not included in the contract.

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Question 1 of 2

What type of "shifts" do you need to look out for if your client doesn't support your proposed solution?

 strategy shifts
 Incorrect

Strategy shifts might derail your consulting engagement, but rarely result because of lack of
acceptance of your solution.

 power shifts

Correct

Power shifts between managers and their teams can be a substantial roadblock to acceptance of your
deliverables, and must be discussed.

 shifty shifts

Incorrect

Aren't all shifts, shifty? You may want to consider the other responses to this question!


funding shifts

Question 2 of 2

One of the primary purposes for using the managerial and technical roles is to ensure your client _____.

 understands your deliverables

Correct

This is a primary purpose for using the technical and managerial roles.


listens to your exact approach for delivery

 doesn't call another consultant

Incorrect
 Being a good listener, and accommodating client needs using ALL the roles is the best way to avoid
this fate!


understands the importance of your contract

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Question 1 of 1

What is NOT something that client's typically look for during the early stages of your consulting engagement?

 Your social status within the client environment.

Correct

While you should get along with the client team, your "social status" amongst that team isn't typically
considered to be relevant.


Evidence that you know what you are doing.


Your willingness to listen.


Confidence in your abilities.

You answered 2 of 2 questions correctly.

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Question 1 of 2

Which of these actions is not recommended when positioning your deliverables for your client to provide “care
and feeding" after your engagement is concluded?


Define any operational risks that may surface for your client.

 Respond to and correct any issue your client may bring to your attention.

Correct

This is the correct answer. You should only respond to issues that were caused by your deliverables.
You should not respond to issues caused by lack of ownership on the part of your client.


Schedule checkpoints to measure progress.


Define phase 2 opportunities, if appropriate.

Question 2 of 2

What are the two types of potential "reviewer" you may be asked to fulfill during a consulting engagement?

 validating and critical

Correct

This is the correct answer, as this represents the two objectives of a review you may be asked to
conduct.
 
contracts and processes


crucial and temporary


all of these answers

Consulting Foundations
Chapter Quiz

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Question 1 of 2

Which of these is NOT a consulting business model?

 general contractor

Incorrect

A general contractor consulting model is when you hire other consultants and you run the project for
the client.

 project based

Incorrect

Project based consulting is where you provide services for a specific scope and duration with a discrete
set of deliverables.
  S-corporation

Correct

An S-corporation is a type of legal entity.


staff augmentation

Question 2 of 2

How should you estimate and manage your costs?

 take a swag and monitor it

Incorrect

A swag won't be accurate enough to manage your business well.

 review your financials at the end of the year

Incorrect

Reviewing financials after the fact won't expose problems until it's too late.

 use a bottoms-up pro forma P&L

Correct

A bottoms-up pro forma forecasts all expenses at a detailed level.


use only external benchmarks

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Question 1 of 2

Where should you market your services?


on the cheapest marketing platform


on every available marketing platform


only on your website

 where your buyers are

Correct

Concentrate your marketing where your buyers tend to be. That maximizes the value of your marketing
investment.

Question 2 of 2

_____ sales is where the principals of the firm build relationships with clients, understand their needs, and sell
services to meet those needs.


Subcontractor

 Direct
 Correct

Direct sales models focus on building strong relationships between the consulting firm's principals and
primary clients.


Commissioned


Partnership

You answered 4 of 4 questions correctly.

Continue watching Retake quiz

Question 1 of 4

Which type of contract governs your entire relationship with the client?

 Master Services Agreement

Correct

A master services agreement governs all aspects of your relationship with your client.


Purchase Order


Statement of Values
 
Task Order

Question 2 of 4

Which of these is a challenge of "at risk" pricing models?


regulators don't like these arrangements


incentives are aligned with your client

 measurement is difficult

Correct

Measuring performance after a project to calculate how much you get paid can be a challenging
exercise.


you can make more money

Question 3 of 4

What is true about "work made for hire" or "work product"?

 
it becomes your intellectual property

 the client owns it after the engagement

Correct

Work made for hire and work product almost always become the client's property.


it doesn't need to be defined in the contract


you get paid a higher rate for it

Question 4 of 4

Which of these is NOT a downside to responding to an RFP?


they can take a lot of time


they can put pressure on your rates
 
they expose your true economics

 they can result in big contracts

Correct

RFPs can result in you landing a big contract which is a great outcome.

You answered 3 of 3 questions correctly.

Continue watching Retake quiz

Question 1 of 3

What drives the number of people you need to staff on your team?

 employment law

Incorrect

Employment law rarely has anything to say about how many people you need to put on a project.

 the amount of work to be done

Correct

The amount of work to be done should drive the number of people you need on the team.


personalities


contract provisions
Question 2 of 3

Which of the following is NOT a good technique for resolving conflict?

 act passive-aggressively and hope the client gets the point

Correct

Ignoring conflict and acting passive-aggressively will make the conflict worse.


incorporate a client's ideas into the project


reduce the client's workload


give the client a visible role on the project

Question 3 of 3

When presenting your findings, be sure to present your ideas _____.

 in the right format

Correct

Choosing the right format makes it easier to understand and approve your recommendation.


after you leave the project
  with as much data as you can find

Incorrect

Only present the data required to make your case to reduce confusion.


like you're the expert

You answered 5 of 5 questions correctly.

Continue watching Retake quiz

Question 1 of 5

Why should you consult an attorney when you draft a contract?

 to protect your interests and reduce risk

Correct

Attorneys will help you identify and mitigate risks in a contract. They'll also protect your interests in
negotiations.


because the client has an attorney


to lower your profits which reduces your taxes


 so your contracts sound intimidating in negotiations

Question 2 of 5

_____ tracks money coming into your business and going out of it.


Balance sheets

 Cash flow

Correct

Cash flow is the movement of money into your business as revenue and funding and out of your
business as expenses.


Financing


Debt

Question 3 of 5

A _____ agreement prevents your employees from pursuing your clients after they've left your employment.


intellectual property
 
restriction


project

 noncompete

Correct

Noncompete agreements prevent your employees from going after your clients after they leave your
company.

Question 4 of 5

What kind of insurance protects you when your work isn't up to standard and it causes financial damages?


disability


workers' compensation

 Errors and omissions (E&O)

Correct

E&O insurance covers situations where mistakes you make cause financial damages to your client.
 
general liability

Question 5 of 5

When you hire people to support you, you have to _____ work.


generate more


avoid


do more

 delegate

Correct

Delegate work to the people you hire to support you. That gives you more time to work on higher
value tasks.

Getting Your Ideas Approved

Chapter Quiz

You answered 3 of 3 questions correctly.

Continue watching Retake quiz

Question 1 of 3

Which step of the process will cause you to iterate more than others?


define the question


select analyses


create the story

 discuss and refine the story

Correct

Discussing the story with others can cause many iterations due to varied opinions.

Question 2 of 3

You should immediately start manipulating data at the beginning of this process.


TRUE

 FALSE

Correct
 Don't get into the data until you have a well-defined hypothesis.

Question 3 of 3

Poor communication leads to lengthy, inefficient process. You end up doing excess, irrelevant analysis and the
result is weak, convoluted communications. When this happens, there's a lack of _____ for your ideas. You'll also
lose _____ as a thought leader.


excitement; salary


color; schedule opportunities

 support; credibility

Correct

Clear communication builds support for your ideas and improves your credibility.


linear path; clients

You answered 1 of 1 question correctly.

Continue watching Retake quiz

Question 1 of 1

A hypothesis is something taken to be true for the sake of argument.

 TRUE

Correct
 
FALSE

You answered 3 of 3 questions correctly.

Continue watching Retake quiz

Question 1 of 3

You should choose your architecture based upon your audience.

 TRUE

Correct


FALSE

Question 2 of 3

You can never combine a layer architecture with a column architecture.


TRUE

 FALSE

Correct

Layer and column architectures can be combined depending upon the needs of your audience.

Question 3 of 3

A column architecture can have more than three columns

  TRUE

Correct


FALSE

You answered 2 of 2 questions correctly.

Continue watching Retake quiz

Question 1 of 2

You should spend a lot of time perfecting your story at this stage.


TRUE

 FALSE

Correct

Time spent perfecting your story can be wasted effort because future analyses might change your
answer.

Question 2 of 2

When discussing and refining your story, you should get input from many stakeholders

 TRUE

Correct


 FALSE

You answered 1 of 1 question correctly.

Continue watching Retake quiz

Question 1 of 1

You should never try to disprove your hypothesis.


TRUE

 FALSE

Correct

Always be open to disproving your hypothesis. You can generate new insights that way.

You answered 1 of 1 question correctly.

Continue watching Retake quiz

Question 1 of 1

You should choose your communication vehicle based upon _____.


your preference


what your boss likes
 
how many people are in the room

 your audience

Correct

Your audience should always influence your choice of communication vehicle.

Creating a Business Plan

Chapter Quiz

You answered 3 of 3 questions correctly.

Continue watching Retake quiz

Question 1 of 3

When defining the problem your company solves, you should look at it through the perspective of _____.

 your customers

Correct

If your customers see your product as the solution to their problem, you've got a viable company.


your ad agency


your suppliers
 
your employees

Question 2 of 3

What is a profit pool?

 the return your investors make when you sell your company

Incorrect

Your investors' return is often referred to as ROI (return on investment).

 the profit dollars available in a given market

Correct

The profit pool is the total potential profit you can compete for.


a measure of how much profit you make


how much of your profits are taxable

Question 3 of 3

What does the "T" in SWOT stand for?

 teams

Incorrect

Your teams should be either conducting the SWOT or addressing the issues it highlights.
  training

Incorrect

Training is what you should do once you identify the threats you need to overcome.

 threats

Correct

You need to understand the threats your business faces.


taxes

Question 1 of 1

The threat of substitutes is the risk you face when _____.

 your customers can use a different product to solve their problem

Correct

Your solution isn't the only solution. Always be aware of what can replace you.


your employees are absent and you use lower skilled workers


your suppliers swap out cheaper components in your product
 
you use the wrong numbers in your financial projections

You answered 2 of 2 questions correctly.

Continue watching Retake quiz

Question 1 of 2

The product development roadmap describes _____.


how your competitor's product has evolved over time


how your research and development process works

 how you'll build your product over time

Correct

This roadmap shows the evolution of your product from idea to finished goods.


the routes you'll use to distribute your product

Question 2 of 2

When you describe your points of differentiation versus competitors, those differences must be _____.
 
aspirational


your weaknesses versus competitors


spelled out in writing

 substantial and meaningful

Correct

Look to separate your product's or service's performance significantly from those of your competitors.

You answered 2 of 2 questions correctly.

Continue watching Retake quiz

Question 1 of 2

What does the sales section of your business plan explain?

 the profit margin you earn on each sale

Incorrect

Your profit margins will be explained in the financial portion of your business plan.

 how much revenue you'll earn each year

Incorrect

Revenue projections will be covered in the financial section of your business plan.
  your FOB delivery terms for each sale

Correct

FOB delivery terms refer to what costs the seller incurs during part of the shipping process.


how you'll sell your product to your customer

Question 2 of 2

A brand is a _____.

 marketing campaign

Incorrect

A marketing campaign can support or build your brand but the campaign isn't the brand itself.

 promise

Correct

Brands tell consumers what to expect and you have to live up to that promise every day.


sales plan


logo

Question 1 of 1

What must your production plan explain?

 
what kind of staffing you need to make your product

 whether you'll insource or outsource production

Correct

Insourcing or outsourcing is a small topic relative to all the information this section of
your business plan should cover.


all of these answers


how your production matches your strategy

Question 1 of 1

What is the most expensive form of compensation?

 equity

Correct

When you grant equity, you're giving away part of the company's future profits.


bonus
 
cash


perks

You answered 2 of 2 questions correctly.

Continue watching Retake quiz

Question 1 of 2

What is one way to exit your business?

 short sale

Incorrect

A short sale is a term used in real estate transactions or in the stock market when you believe a stock
will decline.

 bank refinancing

Incorrect

Bank refinancing is done to change the terms of your debt. It rarely involves any kind of ownership
transfer.

 acquisition

Correct

Selling your company to someone else can be an attractive way to exit your business.


 mass layoffs

Question 2 of 2

Your financial forecast should be _____.

 built based on unit drivers

Correct

Build your forecast from the bottom up. Analyze unit drivers to create accurate forecasts.


optimistic and exciting


built top down


extremely precise