Business Structures, Agency Law, and Employment Regulations Practice Test

Intellectual property refers to creations of the mind that can be legally protected, encompassing various forms such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce. Each option presented represents a form of intellectual property that can be licensed.

A physical book qualifies as intellectual property because it embodies the author's original expression and creativity. The rights to reproduce, distribute, and display the book can be licensed to others, allowing for royalties and broader distribution.

A popular song is another clear example of intellectual property that can be licensed. The music, lyrics, and arrangement are protected under copyright law. Songwriters and music publishers often license the performance, reproduction, or use of songs in various media, earning revenue through licensing agreements.

An online document template is also intellectual property. It is a product of design and creativity, offering utility to users. The creator of the template can license it to others, allowing for use while controlling how it is distributed and potentially generating income through such licensing.

Since all of these options represent valid forms of intellectual property that can be effectively licensed, the correct choice encompasses all of them, reflecting the broad nature of intellectual property licensing.