Naming Your Business Answer Key

Enter this address: http://www.inreach.com/sbdc/book/checklist.html

Click on Business name

  1. What should your business name give people an idea of?
  • The nature of your business and the project the image you want to have.
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    1. Along with a name, many businesses also develop a ____logo________ which provides a graphic symbol of the business.
    1. Where can you look to make sure that no one else already has your business name?
  • Local phone book, local government offices, trade directories, the Federal Trademark Register, listings of corporate business names from the Secretary of State, or you can hire someone to do a search.
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    • Click on An Introduction to Business Name

    1. What is the primary purpose of a copyright?
  • To promote human knowledge and development.
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    1. What does a Trademark Law do?
  • Govern disputes between business owners over the names, logos, and other devices they use to identify their goods and services in the marketplace.
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    • Click on Introduction

    1. What does a Trade Secret Law do?
  • The trade secret law affords the owner of commercial info that provides a competitive edge the right to keep others from using such info if the info is improperly disclosed to or acquired by a competitor and the owner of the info took reasonable precautions to keep it secret. (Willy Wonka example)
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    1. Copyright Law protects what?
  • All types of original creative expression, such as that produced by authors, composers, artists, designers, programmers, and Web page designers.
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    • Click on back, then click on Part 1: Trade Secret Law

    1. What kind of information qualifies as a trade secret?
  • Provides owners of information with a competitive advantage in the market place and is treated in a way that can reasonably be expected to prevent the public or competitors form learning about it, absent improper acquisition or thief.
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    1. May a Trade Secret be sold?
  • Yes, trade secrets may be sold by one business to another.
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    • Click on back, then click on Part 2: Copyright Law

    1. A copyright actually is a bundle of separate exclusive sub rights, including the exclusive right to:

     

    1. reproduce the work

    2. display or perform the work

    3. distribute the work

    4.prepare adaptations of the work (derivation works)

    1. How long do most copyrights last?
  • A copyright lasts the life of the author plus 70 years.
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    • Click on back, then click on Part 3: Patent Law

    1. What does PTO stand for?
  • Patent & Trademark Office
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    1. What is a patent?
  • A patent is a document issued by the U.S. Patent & Trademark Office (PTO) that grants a monopoly for a limited period of time on the use & development of an invention which the PTO finds to qualify for patent protection.
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    1. What three different kinds of patents does the PTO issue?

    1. Utility patent

    2. Design patent

      1. Plant patent

    Click on back, then click on Part 4: Trademark Law

    1. What are Trademarks and Service Marks?
  • A distinct word, phrase, logo, graphic symbol, or other device that is used to identify the source of a product or service and to distinguish a manufacturer’s or merchant’s products form anyone else’s.
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    1. What is trade dress?
  • A distinct shape or packaging a product is identified by.
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    • Click on back two times, then click on The Name Game

    1. What are the five guidelines to keep in mind as you consider naming your new company?

    1. Make the name meaningful.

    2. Make sure the name is easy to understand & pronounce.

    3. Choose a name that you can live & grow with.

    4. Make it unique.

    5. Try it on for size.

    Click on back, then click on Pick a Memorable Name for Your Business

    1. What are the most memorable business names?
  • Made-up words, or words that are somehow fanciful or surprising.
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    • Like Xerox, Kleenex

    1. Names that people tend to forget are _____common names__________.
  • The Car Shop
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