Chapter III

I. TRUE OR FALSE
Direction. Determine whether the statement is TRUE or FALSE. Write TRUE if the
statement is correct and write FALSE if otherwise. Write your answer before the
number.
TRUE 1. The first basic skill an entrepreneur needs is her ability to identify
entrepreneurial opportunities.
TRUE 2. New business ideas provide business opportunities.
TRUE 3. The variables in the physical environment include the technological
environment.
TRUE 4. Interests and hobbies of the people are possible good sources of
entrepreneurial ideas.
FALSE 5. Discovery and advancement in the use of technology are not a good source
of entrepreneurial ideas and opportunities.
TRUE 6. One of the protection features of intellectual property is it demonstrates the
commitment of entrepreneurs for their ideas.
TRUE 7. The copyright grants the holder the right to an invention, new products and
processes to prevent others from making, using or selling these without his
permission.
TRUE 8. A business name is not those that are registered as trade names, trademarks, or
business names by any government agency authorized to register names or
trademarks.
FALSE 9. A trademark is a brand name.
FALSE 10. A business name should be deceptive, misleading or misrepresent the
nature of the business.

II. MULTIPLE CHOICES

Direction:Select the best answer. Encircle the letter of chosen answer.

1. It is a common word used so that their original meaning has no relationship to the
goods or services to which they are applied.
a. trade mark c. business name
b. brand name

2. It protects the original works of authorship.

a. patent c. trade secret
b. copyright
3. It states that it is illegal for anyone to use any name for a business other than the
owner’s true name without first registering the business name with DTI.
a. Business Name Law c. Registration law
b. RA 3883

4. It includes any word, name, symbol, and scent or device any combination used, or
intended to be used, in commerce to identify and distinguish the goods of one
manufacturer or seller from the goods manufactured or sold by others..
a. trade mark c. patent
b. copyright

5. An information that a company keeps to give them an advantage over their

competitors.
a. patent c. trade mark
b. trade secret

6. It refers to the creations of the mind.

a. property right c. intellectual property right
b. copyright

7. It is an entrepreneurial process which begins with idea generation wherein the

entrepreneur identifies and evaluates the business opportunities.
a. discovery c. harvesting
b. concept development

8. It is the concept which centers around a commodity or services that can be sold for
money.
a. creativity c. innovation
b. business idea

9. A step in the entrepreneurial process where the entrepreneur finds the investors for
the new venture and the personnel to carry out the business activities.
a. resourcing c. harvesting
b. concept development

10. Under the 1976 Copyright Act, notice of copyright consists of three elements:
the symbol 11. the date of first publicaton 12. the name of the owner of the copyright
13. Most inventions have two names: brand name and 14. generic name
15. DTI stands for Debt-To-Income
III. Definition of Terms:
Direction:Please read carefully the definitions in Column A and match it with the
word/phrase in Column B. Write your answer in a yellow paper.

Column A Column B
1) A concept which can be used for commercial A. Patents
purposes. J
2) Grants property rights to an invention, new B. Business Name
products and innovative processes. A
3) It stands as emblems of a company’s reputation. C. Trade secrets
D
4) A legal right granted to a creator of an original D. Trademarks
work of authorship to control publication,
production, sale or distribution of it, including
literary, dramatic, musical, artistic, and other
intellectual works. E
5) It includes formulas, patterns, plans, designs, E. Copyright
physical devices, software, and “know-how.” C
6) Refers to any name that is different from the F. Fanciful
true name of an individual which is used or
signed in connection with his/her business. B
7) New words that had no meaning before their G. Business idea
use as a trademark F
8) These patents protect new, original and H. Design patents
ornamental design for manufactured items. H
9) Identifies a type of product or service without I. Generic
indicating any particular manufacturer or
source. I
10) A concept which can be used for commercial J. Intellectual Property
purposes. G