When a Brand Name Becomes the Name by Which a Class

question 107

True/False

When a brand name becomes the name by which a class of products is generally known, the original owner loses exclusive claim to the brand name.

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Definitions:

15 Years Old

Refers to an individual or object that has reached or exists for a duration of fifteen years.

Restrictive Indorsement

An endorsement on a negotiable instrument that limits the way the instrument can be used, such as by specifying a particular payee.

Fiduciary Duty

An obligation to act in the best interest of another party, for instance, the duty a trustee has towards the beneficiaries of the trust.

Indorsee

The person to whom a negotiable instrument (like a check or promissory note) is endorsed or transferred.