ee) Intellectual Property Rights (IPRs) Questions Latest Intellectual Property Rights (IPRs) MCQ Objective Questions CER ABR he lial RI a eon Start Complete Exam Preparation Glens Practice fox} Mock Tests osc) Cree ee Jownload App xtc) Question 1: View this Question Online > What is the term of copyright for an author of a book ? 4. 100 years 2. The life of the author 3. The life of the author plusi60 years 4. The life of th@lauther plus 50 years Answer (Detailed Solution Below) Option 3: The life of the author plus 60 yearscoaching India’s Super Teachers for all govt. exams Under One Roof Intellectual Property Rights (IPRs)Question 1 Detailed Solution The correct answer is The life of the au €) Key Points The term of copyright for an author of a book in India is 60 years from the year following the author's death. This is as per Section 22 of the Copyright Act, 1957. ‘or plus 60 years For example, if an author dies in 2023, their copyright will expire in 2084. The copyright term for books is one of the longest copyright terms in India. This is because books are considered to be works of intellectual property, and the copyright term is designed to protect the author's investment in their work. After the copyright term expires, the book becomes public domain, which means that anyone can copy, distribute, or perform the book without seeking permission from the copyright holder. ge eae Recon) CROCCO Reid Start Complete Exam Preparation Pane arated MasterClasses Cresieiccag VV > Download App P Question 2: The use of information and ideas protected by IPR are of 1. Cultural value2. Social value AY Answer (Detailed Solution Below) Option 3: Commercial value Intellectual Property Rights (IPRs) Question 2 Detailed Solution The correct answer is Commercial value. © Key Points + The use of information and ideas protected by intellectual property rights (IPR) are o commercial value. + IPR are a set of legal rights that protect the creations of the human mind, such as inventions, literary and artistic works, designs and symbols, and names and images used in erce. These rights give the creators the exclusive right to use, exploit, 6 sain their creations for a certain period of time. + IPR play an important role in promoting innovation and cre: new ideas and products, IPR encourage them to i and development. This leads to the creation of new products and servic society as a whole. + IPR are also important for businesses. By prot tellectual property, businesses can gain a competitive advantage in the’man also use their IPR to attract investors and partners. The following are some exa! how IPR are used to protect information and ideas of commer value: Patents: Patents protect inventions fora period of 20 years. They give the inventor the exclusive right to make, use, sell, and offer to sell the invention. Copyrights: Copyrights protect original works of authorship, such as literary, dramatic, musical, and artistic works, and cinematographic films. They give the copyright holder the exclusive right to reproduce, distribute, perform, display, and create derivative works based on the copyrighted work. Trademarks: Trademarks protect words, phrases, symbols, and designs that identify the source of goods or services. They give the trademark holder the exclusive right to use the trademark in connection with the goods or services for which it is registered. Businesses can use IPR to protect their brands, trade secrets, and other valuable information and ideas, By doing so, they can gain a competitive advantage in the market and increase their profits. rotecting the creators ofPPE aR ea Berl) Start Complete Exam Preparation ORL cad alien pokes a Does cielnny resieacrd Exotic) Jownload App Question 3: View this Question Online > Which among the following is closely associated with intellectual property rights ? 1. GATS 2. TRIMS 3. TRIPs 4. MeN A. of the above Answer (Detailed Solution Below) Option 3: TRIPs Intellectual Property Rights (IPRs) Question 3 Detailed Solution © Key Points TRIPS: + The WTO's agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) was negotiated fram 1986-to 1994. + It was the Uruguay Round of GATT negotiations where for the first time the rules relating to intellectual property rights were discussed and introduced as part of the multilateral trading system. + Intellectual property means information with commercial values such as ideas, ins creative expression and others. + The agreement sets out the minimum standards of protection to be adopted by the parties Sin teenie eel pres pe” Coat cal aes tan Boer eer Bader:+ Those are copyrights and related rights, trademarks, geographical indication, industrial designs, patents, layout design of integrated circuits, and undisclosed information (trades! secrets). g » Important Points TRIPS objective: + These goals include reducing trade distortions afid)bottlenecks. + It promotes effective and adequate intellectual property rights (IPR) protection. + TRIPS ensure that measures anc) ppgesciures for enforcing intellectual property rights (IPR) do not become hurdles to isitinata comme, + Provision on dispute settlement. Thus, TRIPs is closely associated with intellectual property rights. General Agreement on Trade and Services (GAT: he GATS provides a framework of rules governing services trade, establishes a mechanism for countries to make commitments to liberalize trade in services, and provides a mechanism for resolving disputes between countries. TRIMS: Under the Agreement on Trade-Related Investment Measures of the World Trade Organization (WTO), commonly known as the TRIMs Agreement, WTO members have agreed not to apply certain investment measures related to trade in goods that restrict or distort trade. The TRIMs Agreement prohibits certain measures that violate the national treatment and quantitative restrictions requirements of the General Agreement on Tariffs and Trade (GATT). MEN: Under the World Trade Organisation (WTO) agreements, member countries normally not discriminate between their trading partners means to grant someone a special favour and grant treat others normally. MFN means if the special statue is granted to a trade partner, it must be extended to all members of the WTO. od cS GI aE Rea ORR Serena Start Complete Exam Preparation Pury Tm @bccac Calico jeer rir Download App Question 4: View this Question Online > What is the primary reason that Intellectual Capital is considered critical for the success of an organization? A. It increases the financial capital of the organization. B. It provides a competitive advantage to the organization. C.lt reduces the operating cost of the organization.D. It increases the market share of the organization. yy Choose the correct answer from the options giv @ 1. Aand C only A, Band D only Answer (Detailed Solution Below) Option 2: B only Intellectual Property Rights (IPRs) Question 4 Detailed Solution The correct answer is B only + Intellectual Capital (IC) refers to the value of an organization's employee knowledge, business training, and any proprietary information that may provide the company with a competitive advantage » \mportant Points A It increases the financial capital of the organizatior + Intellectual Capital ((C) consists of knowledge, information, intellectual property, experience that can be put to use to create wealth. + While it's not a direct financial asset, it can certainly lead to increased financi capital if effectively utilized. For example, a company with a highly skilled and innovative workforce (a form of I) may develop unique products or services that drive sales and profits, thereby < increasing the financial capital of the organization. CG B. It provides a competitive advantage to the organization: 98 * This is often seen as the primary function of IC + A company's unique combination of knowledge, systems, and relati differentiate it from competitors. * This might manifest in unique, high-quality products or rior customer service, or more efficient internal processes. + All of these can give a company a significant & stplace, allowing it to outperform competitors. C. It reduces the operating cost of the organization: ac(iymiiliwervaiegetiesd sidan ieee we edie cron sce erected wiianeane icesorganization's operations. + For example, an organization that has effective knowledge management systems in place (a form of structural cepital) can avoid wasting resources on “reinventing the wheel". Instead, employees can learn from past experiences and avoid making costly mistakes, leading to reductions in operating costs. D. It increases the market share of the organization: + IC, particularly in the form of relational capital (relationships with customers, partners, etc.), can help a company increase its market share, + For example, strong brand recognition or a reputation for high-quality customer service can attract more customers to the company, helping it to gain a larger share of the market. + Similarly, a company that fosters strong relationships with its partners might gain preferential access to distribution channels, enabling it to reach more customers than competitors. While Statements A, C, and D can be potential outcomes of effective management and utilization of IC, Statement B is often viewed as the primary function of IC. rad eee ica) Start Complete Exam Preparation Rea cet (ein actice Prana ies Eee mr Cesar Download App View this Question Online > Which of the following is incorrect in context of trademark? 1, It may be a ward signature, name, device, label, numerals or coffibination of colours 2. It prevents imitation of the offering 3. Registration of a trademark is mantlatory InIndie 4, The term of registration of a trademark is 10 years BB 02:00 Solution Below) Option 3 : Registration of a trademark is mandatory In IndiaIntellectual Property Rights (IPRs) Question 5 Detailed Solution © Key Points Trademark: + Any word, phrase, symbol, design, or combination of these that distinguishes your products or services might be considered a trademark. + Customers use it to recognise you in the marketplace and set you apart from your rivals. + Both trademarks and service marks can be referred to by the term “trademark.” » \mportant Points Statement 4: It may be a word signature, name, device, label, numerals or combination of colours. + A trademark is one that incorporates a brand, device, heading, ticket, label, name, word, signature, letter, the shape of goods, numeral, packaging, combination of colors, or any such combination, according to Section 2(m) of the Trademarks Act, 1999. » Thus, option 1 is correct. Statement 2: It prevents imitation of the offering. gi + A trademark is protected against infringement when registered under the Act, meaning that a third party cannot use the registered brand for theirggoods orservices without authorization. Intellectual property such as trademarks, .copyrightsyand patents which prohibits duplicating and replicating commercial concepts and market trends that are in the public domain. It prevents imitation “ Hence, option 2 Is correct. Statement 3: Registration of a trademark is mandatory In India. + Trademark registration is not mandatory in India, it is usually suggested to do so in order to protect both its mark and their company. When submitting a trademerk registration application for a product the symbol "TM" is used with the trademark. Thus, option 3 is incorrect. Statement 4: The term of registration of a trademark is 10 years. + The lifespan of a trademark is limited at 10 years. If they want to continue receiving legal protection for their asset after that, it must be renewed. The TM-12 form is used to submit a trademark renewal application. Thus, option 4 is correct. Top Intellectual Property Rights (IPRs) MCQ Objective Questions & India’s #1 Learning Platform Renae eats Start Complete Exam Pre;Ba Daily Live ted Sab atl POs ccoleeny Cres eeog Exotic) Download App ‘Question 6 View this Question Online > Intellectual Property Rights (IPRs) protect the use of information and ideas that are of 1. Social value 2. Moral value 3. Commercial value lue Answer (Detailed Solution Below) Option 3: Commercial value Intellectual Property Rights (IPRs) Question 6 Detailed Solution Intellectual Property Rights (IPRs) protect the use of information and ideas that are of ‘Commercial Value. i J ~ BL mportant Point The four types of intellectual property rights include: , 1, Trade Secrets 2. Trademarks 3. Copyrights, and 4, Patents CD Key-Points The Economic and Commercial Value of Intellectual Property Rights (IPRs): IPRs as a Means of Protecting Business Interests, .g Innovation and Technology Transfer and Promoting Trade and Investment. + The valuation of IP is therevore essential in the framework of commercial transactions.Unfortunately, this aspect is often overloowervaluediog sedenralupsticnced with these types of and therefore unprofitable or sometimes disastrous situations leading to bankruptcy + It is therefore essential to analyze and assess the value of the intellectual property during the negotiation peésesshe conclusion of the commercial transaction + A brand is generally subject to trademark protection + Technology can be subject to patent, industrial design, and/or copyright protection + Other types of intellectual property may also exist, CER ABR he lial RR Se eeu Start Complete Exam Preparation Mock Tests Ext 5 Pann oe Clietes Download App Question 7 View this Question Online > Under which type of agreement royalty is paid on the basis of sale? 1. Mining 2. Patent 3. Copy right 4, Licensifig a Answer (Detailed Solution Below) Option 3 : Copy right Intellectual Property Rights (IPRs) Question 7 Detailed Solution The correct answer is Copyright © Key Points= a + A user must pay a royalty to the owner of the asset or object over which the owner has certain privileges. + The owner and the user of such property or rights prepare a royalty agreement. + If money is paid to acquire the property or right, it will be considered a capital expense father than a royalty. » Important Points Royalty on Copyright: + The author (on his book(s), the photographer (of his, images), Orany other creator of such creative works has a legal right under copyright, + Based on the sale made by the publisher, a copyright royalty is paid by the publisher (lessor) of a book to the author (lessor) of that boOk oF tothe photographer. & Additional Informati Royalty on Patent: + An invention is a product or a technique that, in general, offers a new way of doing something or presents a new technical solution to a problem. + A patent is an exclusive right awarded for an invention, + The patent royalty agreement specifies what is being licensed (eg. a patented product or technique), how the licensee can use it (to manufacture, use or sell the product), and for how long and under what terms they can use it. Royalty on Mining: + The lessee of a mine or quarry pays royalty to lessor of the mine or quarry, which is generally based on the production or output basis. ea eee tcl Renae eee Start Complete Exam Preparation Gees 7 bee MasterCl Ext) Download App Question 8 View this Question Onine > Intellectual Property Rights include 1, Patents 2, coma =—_ 3. Trademark 4. All of the above Answer (Detailed Solution Below) Option 4: All of the above Intellectual Property Rights (IPRs) Question 8 Detailed Solution The correct answer is All of these. © Key Points + The term “intellectual property," or “IP,” refers toall of the legal protections for ideas and concepts as they are realized, You, can use’intellectual property rights to protect things like music, trade names, brand names, product designs, techniques, games, software, lyrics, and photos. + Understanding vod RD ccton and how they are made is essential to knowing how to safeguard a compan ble assets, such as patents, trademarks, copyrights, and trade secrets, + A work's owner is typically considered to be its creator. However for various kinds of property and in various situations, intellectual property ownership can be decided in various ways. For instance, if a piece of work is produced for @ client, the client is the owner of that intellectual property. Hence, Intellectual property rights includes patents, copyrights and trademark. os eee iat Start Complete Exam Preparation aCe Da ora Download App Question 9 View this Question Online > Intellectual Property Rights (I.P.R.) in India covers 1, Patents 2. Copyrights3. Trademarks Answer (Detailed Solution Below) Option 4: All of the above Intellectual Property Rights (IPRs) Question 9 Detailed Solution The correct answer is All of the above. + IPRis a general term covering patents, copyright, trademark, industrial designs, geographical indications, protection of layout design of integrated circuits. 6 Key Points « India has laws covering various areas of Intellectual Property as enumerated herein belo yw: Trade Marks Patents Copyrights and Related Rights Industrial Designs Geographical indications Layout Designs of Integrated Plant Varieties ° Information Technology and Cybercrimes Data Protection ~ » Important Points + Following acts deal with the protection of intellectual property: & es Trade Marks Act, 1999 The Patents Act, 1970 (as amended in 2005) The Copyright Act, 1957 The Designs Act, 2000 The Geographical Indications of Goods (Registration and Protection) Act, 1999 The Semiconductor Integrated Circuits Layout Design Act, 2000 The Protection of Plant Varieties and Farmers’ Right Act, 2001 The Information Technology Act, 2000 India’s #1 Learning Platform CR Sect Start Complete Exam Preparation ead Prociee PeeDownload App ‘Question 10 View this Question Online > Arrange the following procedure for the grant of patentin a proper sequence: (A) The true and first owner shall apply in form l'and legal representative of true owner shall apply in form II (8) Acomplete specification shall be filled with a fee of Rs. 50/- within 12 months from the date of filing of application (Q The first inventor,of the work who claims to be true and first owner or his legal representative (0) For each invention separate application for a patent shall be made oa correct answer from the options given below: 4 (A, 0),(0.8) 2. (©, (D). (A), (8) 3. (8), (A), (2), 4. (B), (D), (©, (A) Answer (Detailod Solution Bolow) Option 2: (©), (0), (A), (B) Intellectual Property Rights (IPRs) Question 10 Detailed Solution The correct answer is (C), (D), (A), (B) © Key Points Patent: + A patent is an exclusive right granted for an invention, which is a product or a process that provides, in general, a new way of doing something, of offers a new technical solution to a problem. @ + To get a patent, technical infqumation about the invention must be disclosed to the public in a patent application. ww + The term of every patent gfan 10 years from the date of filing of application.» Important Points Procedure for the grant of patent: 1. The first inventor of the work who claims to be true and first owner or his legal representative. 2. For each invention separate application for a patent shall be made 3. The true and first owner shall apply in form | and legal representative of the true owner shall apply in form It 4.4 complete specification shall be filled with a fee of Rs. 50/- within 12 months from the date of filing of application. eRe an er Rear ey te Start Complete Exam Preparation lees red Mock Tests Doster Crested ote Download App Question 11 (View this Question Online > Given below are two statements: One is labelled as Assertion (A)and the other is labelled as Reason (R). Assertion (A): Trademark registration gives ex¢lusive proprietary rights to the trademark owner. Reason (R): A trademark is a recognizable sigit design or expression which identifies products or services of a particular source from those of others. and are used to claim exclusive proprietary rights of products or services In light of the above statements. choose the correct answer from the options given below : 14 AM and (R) are true and (R) is the correct explanation of (A) 2. Both (A) and (R) are true but (R) is NOT the correct explanation of (A) 3. (A) is true but (R) is false 4. (A) is false but (R) is trueAnswer (Detailed Solution Below) Option 1 : Both (A) and (R) are true and (R) is the correct explanation of (A) Intellectual Property Rights (IPRs) Question 11 Detailed Solution A trademark registration gives exclusive proprietary rights to the trademark owner. Itis a recognizable sign, design, or expression which identifies products or services of a particular source from those of others, and are used to claim exclusive proprietary rights of products or services. C9 Key-Points ~ 1. A trademark is a word, phrase, symbol, and/or design that identifies and distinguishes the source of the goods of one party from those of others 2. A service mark is a word, phrase, symbol, and/or design that identifies and distinguishes the source of a service rather than goods. 3. Some examples include brand names, slogans, and logos. The term “trademark” is often used in a general sense to refer to both trademarks and service marks 4, Trademarks are generally considered a form of intellectual property and may or may not be registered. Both (A) and (R) are true and (R) is the correct explanation of (A). ieee anu Rei! Start Complete Exam Preparation CR Geo Dc ott ree Practice (=) Dear Des cieln Question Bank Exotic) Download App Question 12 View this Question Online > Under copyright agreement the amount of royalty is computed on the basis of 1, Number of books published 2. Number of books sold 3 a of books published4. Total sale price of the books sold Answer (Detailed Solution Below) Option 4 : Total sale price of the books sold Intellectual Property Rights (IPRs) Question 12 Detailed Solution The correct answer is Total sale price of the books sold. Copyright - + The legal right of the owner of intellectual property is refered tovas copyright. «+ The right to copy is the simplest definition ofcopyright. + This indicates that the only people who have the Sole right to reproduce a work are the original authors of that work and anyone t6 whom they grant permission, » Important Points Royalty - A legally binding nt granted to an individual or business in exchange for continued use of their assets, such as copyfigh:ed works, franchises, and natural resources, is known as a royalty. Either production or sales are used as the foundation for calculating royalties. The manufacturing account is debited for royalties paid on production whereas the P/L account is charged for royalties received on sales. Thus, Under copyright agreement the amount of royalty is computed on the basis of Total sale price of the books sold. rN eee Rec reey RE eos Start Complete Exam Preparation ea eed mR cacos Cae Ce GnDownload App Question 13 . J View this Question Online > The first offence for infringement of copyright can be for a maximum of imprisonment or of +, 6 month and a fine of Rs. 20,000 2. 3 years and a fine of Rs. 50,000 3. 3 years and a fine of Rs. 2,00,000 4. year anda fine of Rs. 300,000 Answer (Detailed Solution Below) Option 3: 3 years and a fine of Rs. 2,00,000 Intellectual Property Rights (IPRs) Question 13 Detailed Solution The correct answer is 3 years and a fine of Rs. 2,00,000 © Key Points oy Copyright Act, 1957: + In the year 1957 to protect intellectual property fights, this law was implemented across the country by making the Copyright Act. >= + Copyright is a type of intellectual property that protects original works of authorship once they are fixed in a tang{@Iijorm of expression by the author. + Under this, books, painting, sd inema, music, computer programs, Advertising, maps and technical illustration: > Important Points Section 6, Copyright Act 1987: Section 63 of the Act provides that any person who knowingly infringes or abets the infringement of- * the copyright in a work, or + any other right conferred by this Act except the right conferred by section 53 shall be punishable with imprisonment for a term which shall not be less than 6 months but which may extend to 3 years and with fine which shall not be less than Rs.50,000/- but which may ‘gpitiaeel Gen: Rio te ielicieRe neon erin) Start Complete Exam Preparation Reo conte Dosh ieee isl Download App Question 14 View this Question Online > Given below are two statements: Statement I: Patents are defined as monopoly rights which One granted by the government, for full disclosure of invention for a limited period of time, that is for 20 years Statement Il: The purpose of granting patents is to encourage inventions by promoting their protection and utilization soas to, contribute to the development of Industries In light of the above statements; choose the most appropriate answer from the options given below 1. Both Statement lfand Statement Il are correct 2. Both ttatement | and Statement Il are incorrect 3. Statement is correct but Statement It is incorrect 4, Statement | is incorrect but Statement II is correct Answer (Detailed Solution Below) Option 1: Both Statement | and Statement Il are correct Intellectual Property Rights (IPRs) Question 14 Detailed Solution The correct answer is Both Statement | and Statement Il are correct » Important Points Statement I: Patents are defined as monopoly rights which one granted by the government, for full disclosure of invention for a limited period of time, thatiis for.20 yearswee + A patent is an exclusive right awarded for an invention is a product or a technique that, in general, gives a new way ‘ something or provides a new technical solution toa problem, + The protection is granted the application. + Hence, Statement lis true. limited period, generally 20 years from the ling date of Statement Il: The purpose of granting patents is to encourage inventions by promoting their protection and utilization so as to contribute to the development of Industries. Explanation: + The purpose of granting patents itself is to not only encourage innovation but also ensure that the inventions are worked in India and are made available to the public in sufficient quantity at reasonable prices. + Hence, Statement II VERE anc Portia Start Complete Exam Preparation ato (ere Cars Download App BoC Lar ceo ‘Question 15 View this Question Online > Choose the correct code for the following statements being correct or incorrect. Statement | : Intellectual Property (IP) is a category of property that includes intangible creations of the human intellect. Statement II: IPR does not include trade secrets and moral.rights. 1, Both the statements | and II are correct. 2. Both the statements | and Il are incorrect. 3. Statement | is correct, but Il is incorrect. _ lis correct, but lis incorrect. 1 acta (basic Riders Vidi.Option 3 : Statement I is correct, but Il is incorrect. Intellectual Property Rights (IPRs) Question 15 Detailed Solution Statement I: Intellectual Property (IP) is a category of property that includes intangible creations of the human intellect. Explanation: 1. Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce. 2. Intellectual property is an umbrella term for a set of intangible assets or assets that are not physical in nature. 3, Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. 4, There are many types of intellectual property, and some countries recognize more than others. 5. The most well-known types are copyrights, patents, trademarks, and trade secrets. Thus, the statement | is correct. Statement II: PR does not include trade secrets and moral rights. Q ( G Explanation: Intellectual property can consist of many types of intangibl jost common are listed below: 1, Trademarks: Trademarks are the names, phra is that differentiate your brand from others in your industry. They must ind used in commerce to sell or promote a product or service. 2. Copyrights: A copyright grar rights to anything you create that expresses or embodies an idea. It gives you exclusive copy, distribute, reproduce, display, and license the work. 3, Patents: Patents are granted fo: new, useful inventions, and they will give you the right to prevent others from making, using, or selling your invention. 4, Trade Secrets: A trade secret is a piece of confidential business information whose secrecy gives youran advantage over your competitors. joral Rights: Moral rights are personal legal rights belonging to the creator of copyright works and not be transferred, assigned, or sold. Moral in other words-"Moral rights are the rights individual creators have in relation to copyright works or films they have created. 6. Franchise: A franchise is a license that a company, individual, or party-called the franchisee— purchases allowing them to use a company’s-the franchisor-name, trademark, proprietary knowledge, and processes. Thus, statement Il is incorrect. Option 3 is the correct answer.