Preview Questions IP Manager | Role Specific Skill

Question 1: How should an IP Manager approach the valuation of intangible assets related to the IP portfolio in FMCG?

Which action should you take?

Choose only one option

IP valuation can be done by external auditors, without involving internal teams.

Valuation of IP assets is unnecessary unless the company is seeking a sale or acquisition.

Intangible assets should be valued based on the initial filing cost alone.

By considering factors such as market demand, licensing potential, and the competitive advantage provided by the IP, using financial models to calculate value.

Question 2: How can an IP Manager ensure compliance with environmental laws while managing IP in FMCG?

Which action should you take?

Choose only one option

IP strategy should be focused only on legal protection, not environmental concerns.

By ensuring that all IP assets related to sustainable technologies are protected and used in accordance with environmental regulations and goals.

Environmental compliance is unnecessary unless required by law.

Environmental laws are irrelevant for IP strategy.

Question 3: How should an IP Manager handle compliance with patent laws in the context of mergers and acquisitions in FMCG?

Which action should you take?

Choose only one option

IP due diligence is unnecessary if the target company has been in the market for a long time.

By conducting thorough due diligence on the target company's IP portfolio, identifying any gaps or risks in patent ownership, and ensuring compliance post-acquisition.

Mergers and acquisitions should not include a review of patent portfolios.

Patent laws are irrelevant for acquisitions unless the target company is a direct competitor.

Question 4: How do you "track the expiration of IP rights" to ensure continued protection in FMCG?

Which action should you take?

Choose only one option

By excluding non-core IP from tracking efforts

By maintaining a detailed docketing system, using IP management software, and setting reminders for renewals and expirations

By assuming that all IP rights will automatically renew without review

By focusing only on high-value patents and ignoring others

Question 5: How do you "manage IP licensing agreements" in FMCG to maximize revenue potential?

Which action should you take?

Choose only one option

By assuming that once a license is granted, no further management is needed

By negotiating favorable licensing terms, ensuring compliance, and tracking licensing performance to optimize revenue generation

By focusing only on one-off licensing deals and ignoring long-term partnerships

By excluding royalties from the licensing agreement to simplify the deal

Question 6: How does an IP Manager incorporate risk management into the IP strategy in FMCG?

Which action should you take?

Choose only one option

IP strategy should focus on protecting as many assets as possible without assessing risk.

Risk management is irrelevant as long as the company has a strong IP portfolio.

Risks can be managed after litigation, not proactively.

By identifying potential risks, such as competitor patents, market changes, and obsolescence, and developing strategies to mitigate those risks.