Certified Licensing Professionals, Inc.

Elevating the Licensing Profession Through Knowledge and Standards


Testimonials

I earned the CLP because it provides knowledge that I can use in my various professional responsibilities, including developing a patenting strategy, a copyright strategy and negotiating license agreements.  I would recommend earning the CLP distinction to anyone currently working in or aspiring to work in the licensing industry.

- Bruce Harrer, CLP
Commercialization Manager, Pacific Northwest National Laboratory

Sample Exam Questions

The following questions were taken from the Certified Licensing Professional examination question repository and serve as samples of the question type and question content found on the Certified Licensing Professional examination. Please see the answer key at the bottom of the page. These questions are also found in the CLP Candidate Handbook.


1. Which of the following components BEST describes an organization’s intellectual capital? 

A. Contracted employees, joint venture partners, and board members

B. Marketing strategies, relationships, and structures

C. Joint venture partners, products, and trade secrets

D. Innovations, know-how, and relationships 


2. What is the general purpose of the recital (or whereas) clause in a license agreement?

A. Provide the warranties against infringement

B. Provide the background of the transaction for ease of reading

C. Provide the agreement on the method of paying the license fee

D. Provide the agreement on the license fee and royalties


3. Which of the following are the MOST important items to review prior to the execution of the final licensing agreement? 

A. Contract terms and conditions and impact on business operations

B. Requirements of the other party and impact on capital costs

C. Environmental implications and impact on capital costs

D. Requirements of the other party and impact on business operations 


4. Which of the following is the foundation of a well-written marketing plan? 

A. Competitive positioning 

B. Action lists

C. Strategies

D. Promotional plans 


5. What is defined as the “price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts?”

A. Fair market value

B. True value

C. Market price

D. Net present value


6. In the United States, which of the following is LEAST effective in the protection of a new operational method?

A. Patent

B. Copyright

C. Contract

D. Trade secret


7. Which invention type is BEST managed as a trade secret?

A. Device or article to be sold

B. Information accessible to numerous employees

C. Distribution processes

D. Inventions where infringement is difficult to detect


8. Which of the following components are the MINIMUM requirements of an agreement management system?

A. Background, exit strategies, and problem resolution procedures

B. Background, report generation capabilities, and opportunity tracking

C. Background, contractual obligations, and strategic directions

D. Background, contractual obligations, and parties


9. Which warranty of non-infringement MOST favors the licensee?

A. The licensed patents do not infringe on the rights of any other entity.

B. The licensed activities do not infringe on the rights of any other entity.

C. The grant of this license will not result in infringement on the rights of any other entity.

D. The licensed patents are provided infringement-free.


10. Under the Bayh-Dole Act, which right is given to the United States government by a university’s granting of a government license?

A. The right to manufacture for commercial sale

B. The right to collect royalties

C. The right to make products for government use

D. The right to use infringers


11. During negotiations, the parties involved have reached an impasse. In addition to the determination of the nature and degree of conflict, which of the following techniques could be used to reduce the conflict without causing the deal to fail?

A. Demand the replacement of the other party’s team members who might be the sources of conflict

B. Meet with the other party’s team leader to ask him/her to fix the sources of conflict within the other party’s team

C. Replace team members, including yourself, that might be the sources of conflict

D. Continue negotiations as before and wait for the conflicts to resolve themselves


12. A chemistry professor employed by a United States university invents a new molecule as part of a federally sponsored project. Which of the following statements is TRUE?

A. The university will assign the invention to the federal government.

B. The professor can assign the invention to his start-up company.

C. The federal government will own the invention.

D. The university can claim title to the invention.


13. When a university grants a license to a licensee, what indemnification is usually granted?

A. None as each party insure itself.

B. The university indemnifies the company for liability for harm caused by products made under the patent.

C. The university indemnifies the company against infringement of third-party patents.

D. The company indemnifies the university for liability for harm caused by products made under the patent.


14. A university located in the United States declines to patent a federally funded invention. The inventor wants to personally own and patent the invention. What step MUST be completed in order for the inventor to proceed? 

A. The university assigns the invention to inventor.

B. The inventor sues the government to obtain the invention’s rights.

C. The university waives the invention to the government, and the government waives the invention to the inventor.

D. The inventor cannot personally own and patent the invention.


15. What is the PRIMARY objective of patent infringement litigation? 

A. Punish the infringer 

B. Stop infringing activities

C. Recover lost profits 

D. Assert patent holder rights

 

SAMPLE QUESTION ANSWER KEY

Question Number

Correct

Answer

Examination Content

1

D

Domain VIII, Task 1

2

B

Domain VI, Task 3

3

A

Domain VII, Task 5

4

C

Domain V, Task 2

5

A

Domain IV, Task 2

6

B

Domain II, Task 1

7

D

Domain I, Task 4

8

D

Domain VIII, Task 3

9

B

Domain VI, Task 2

10

C

Domain VI, Task 2

11

C

Domain VII, Task 1

12

D

Domain VI, Task 2

13

D

Domain VI, Task 3

14

C

Domain VI, Task 2

15

D

Domain II, Task 6

 
 

Certified Licensing Professionals, Inc.

11130 Sunrise Valley Drive, Suite 350, Reston, VA 20191
Phone: (888) 391-7719 Email: clpinfo@licensingcertification.org

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