The first part of the CPSM exam is focused on the Foundation of Supply Management, which involves the following:
- Contracting and Negotiation
- Cost and Finance
- International Supply Management
- Social Responsibility
- Supplier Relationship Management
CPSM Exam 1 requires you to answer 165 questions within 2 hours and 45 minutes. Thus, you need to be very quick and precise when you take the exam.
You don’t have to panic because passing the CPSM Exam is possible. All you have to do is dedicate your time and effort in reviewing for the said test.
The first thing you need to study is all about Contracting and Negotiations. Keep in mind that this topic is broad and a little bit tricky!
This article will guide you on the different types of intellectual property.
Copyright is a legal term that grants the creator of an original work exclusive right to its use and distribution. The creator may receive compensation for the work. The works covered by a copyright range from:
- Computer programs
- Technical drawing
A patent is an exclusive right granted to an inventor for his or her original invention. The patent provides the owner the right to decide on how or whether the invention can be used by others.
If the owner decides to give the patent to other party, the patent owner will publicly provide technical information about the invention.
A trademark is a recognizable sign or design that distinguishes a particular good or services of one enterprise to other enterprises. The trademark owner can either be an individual, business, organization or other legal entity.
Licensing refers to the partnership between an intellectual property rights owner and another who is authorized to use such right in exchange for a royalty fee or agreed value.
The following are the categories of a licensing agreement:
- Technology License Agreement
- Trademark Licensing and Franchising Agreement
- Copyright License Agreement
If you want to get more study cheats and Pass the CPSM Exam, all you have to do is participate in our CPSM Training Review Program or our CPSM Boot Course Program.
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If you want to have a salary increase or become a leader in your company, all you have to do is visit www.cpsmtraining.com or www.supplyleadersacademy.com and participate in our review and online courses!