Business Law-Chapter 17 Flashcards
E-commerce
The sale of goods and services by computer over the internet.
Internet
collection of millions of computers that provide a network of electronic connections between the computers.
World Wide Web
An electronic connection of millions of computers that support a standard set of rules for the exchange of information.
Electronic written communication between individuals using computers connected to the internet.
Domain Name
A unique name that identifies an individual’s or company’s website.
E-mail and web contracts
Contracts that are entered into by e-mail and over the World Wide Web.
Uniform Computer Information Transactions Act (UCITA)
A model state law that creates contract law for the licensing of information technology rights.
License
A contract that transfers limited rights in intellectual property and informational rights.
Licensor
An owner of intellectual property or informational rights who transfers rights in the property or information to the licensee.
Licensee
A party who is granted limited rights in or access to intellectual property or informational rights owned by a licensor.
Exclusive License
A license that grants the license exclusive rights to use informational rights for a specified duration.
Licensing Agreement
A detailed and comprehensive written agreement between a licensor and a licensee that sets forth the express terms of their agreement.
Cancellation
The termination of a contract by a contracting party upon the material breach of the contract by the other party.
Licensor’s Damages
Monetary damages that a licensor may recover from a licensee who breaches a contract
Licensee’s Damages
Monetary damages that a licensee may recover from a licensor who breach a contract.
