Which of the Following Is True of Trademarks

question 263

Multiple Choice

Which of the following is true of trademarks?

• A)A successful trademark is one that becomes a generic name for a product, for example, "Xerox" has become a generic term for making photocopies.
• B)A successful trademark is one that allows consumers to immediately identify the source or producer of the product.
• C)If a firm is granted a trademark, then no other firms can legally produce similar products for a given period of time.
• D)If a firm is granted a trademark, then no other firms can legally sell in the same geographic area for a given period of time.

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Definitions:

Satisfice

Satisfice is a decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal solution, particularly when faced with limited information or time.

Shareholders

Shareholders are individuals or entities that own shares in a company, thereby holding a portion of the ownership and potentially influencing company decisions.

Problems

Situations, questions, or conditions perceived as unsatisfactory, requiring solutions or answers.

Subjective Probability

The individual's personal estimate of the chance of occurrence of a specific outcome, based on their own judgment or belief rather than on objective data.