In your own words, what is a trademark? Why are generic or descriptive names or words not given trademarks?
Answer to relevant QuestionsWhat are three of the pitfalls individuals should avoid when seeking a trademark?1. Given the nature of the industry, how valuable will a patent be to Tom? Explain.2. If Tom does get a patent, can he bring action against infringers? Will it be worth the time and expense? Why or why not?3. What do you ...Identify and discuss three of the psychological characteristics that help an entrepreneur identify and describe customers. Also, explain how the product life cycle will affect the purchasing behavior of these customers.How would an entrepreneur’s new-venture strategy differ under each of the following marketing philosophies: production-driven, sales-driven, consumer-driven?If an entrepreneur wants to use break-even analysis but has trouble assigning some costs as either fixed or variable, can break-even analysis still be used? Explain.
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