Aunt Juliet Wants to Know Whether or Not to Register

question 58

Multiple Choice

Aunt Juliet wants to know whether or not to register her trademark.Which of the following is true with regard to registration of trademarks?

• A)If she does not register her trademark under the Trademark Act, she will have no legal protection of that mark.
• B)Trademarks can only consist of socially acceptable symbols or logos; words and expressions must seek copyright protection.
• C)A registered trademark is required for a passing-off action.
• D)Registration of the trademark would give her exclusive use of that mark nationwide with respect to the particular type of business, or similar products or services as indicated on the application even though she is not marketing her wares nationwide.
• E)Registration gives her the right to use her mark for her life plus 50 years.

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Definitions:

Deferred Gross Profit

The portion of gross profit on installment sales that is not recognized immediately but is deferred until cash is received.

Cost Recovery Method

An accounting method where profits are not recognized until all the costs of the goods sold are recovered.

Sales Price

The amount of money for which a product is sold to customers.

Transfer of Risks

The process in contracts where the risk of loss or damage to goods passes from the seller to the buyer.