Preview Questions IP Manager | Role Specific Skill

Question 1: How do you "align IP strategy with business objectives" in FMCG?

Which action should you take?

Choose only one option

By assuming that IP naturally aligns with business strategy without adjustments

By focusing only on legal protection without considering strategic goals

By focusing solely on protecting existing IP without considering business expansion

By conducting regular consultations with business leaders, ensuring that the IP portfolio supports market growth, competitive positioning, and innovation

Question 2: How does an IP Manager handle the issue of patent expirations in FMCG?

Which action should you take?

Choose only one option

Expiring patents should not be renewed unless they are critical for the business.

No action is required if a patent expires but the product remains competitive.

Patent expirations can be ignored if the product is still on the market.

By proactively tracking expiration dates, filing for renewals when necessary, and assessing the business impact of expired patents.

Question 3: What are the key performance indicators (KPIs) an IP Manager should use to evaluate the success of an IP strategy in FMCG?

Which action should you take?

Choose only one option

KPIs should focus exclusively on patent grants, ignoring the strategic use of IP.

Success can be evaluated by employee satisfaction with IP filings.

Success should be measured only by the number of patents filed.

By tracking metrics such as revenue from IP licensing, patent portfolio strength, market share, and successful defense against IP infringement.

Question 4: What should an IP Manager do if a licensee is sublicensing the intellectual property without permission in FMCG?

Which action should you take?

Choose only one option

Discontinue the licensing agreement immediately without addressing the sublicensing issue.

Sublicensing can be permitted retroactively if the licensee requests it.

Review the agreement terms, take appropriate legal action to protect the IP, and negotiate terms for sublicensing if deemed necessary.

Ignore the sublicensing issue unless it directly impacts the company's sales.

Question 5: How can an IP Manager integrate performance metrics into licensing agreements for FMCG?

Which action should you take?

Choose only one option

Licensee performance should be evaluated solely by financial success, ignoring market reach.

Metrics should be avoided to prevent conflicts with the licensee.

Performance metrics are unnecessary as long as the royalty rate is set.

By defining specific performance milestones, including sales targets and marketing efforts, and including clauses that allow for renegotiation based on performance.

Question 6: How should an IP Manager approach the renewal of licensing agreements in FMCG?

Which action should you take?

Choose only one option

Renewal should only be considered if the licensee requests it.

By reviewing the performance of the licensee, assessing market conditions, and negotiating new terms based on the ongoing value of the IP.

Terms should remain the same as the original agreement without any revisions.

Renewals should be automatic without considering market conditions.