Federal Personal Property Laws Flashcards
True or False: §1 of the Sherman Act bans contracts, combinations, or conspiracies in restraint of trade.
True.
The Sherman Act bans these activities.
Define “collusion”.
Activity that may be evidenced by communications between the parties, opportunity to conspire, uniformity of action, etc.
List some examples of antitrust statues.
The Sherman Act (1890);
The Clayton Act (1914);
Federal Trade Commission Act (1914);
Robinson-Patman Act (1936);
What is the main goal of antitrust laws?
To promote economic competition.
What activity is generally exempt from antitrust laws?
Labor union collective bargaining activity
Define “market power”.
The ability to raise prices without losing most customers.
List the elements of copyright ability?
An expressive work must be
Fixed in some tangible medium of expression;
Creative;
Original.
List the uses of material that may be protected against copyright infringement claims by the “fair use” defense.
Criticism; Comment; News reporting; Teaching; Scholarship; Research.
What purpose do copyrights serve?
They reward creative expression.
What is the length of a copyright protection?
Usual: Life of author + 70 years;
Work for hire: shorter of 95 years from date of publication or 120 years from date of creation.
What protections are provided by copyrights?
They protect original works of authorship.
List the four types of intellectual property.
Copyright, Patent, Trademark, Trade Secret.
Where are patents filed?
At U.S. Patent and Trademark Office (within one year of invention).
What is the length of a patent protection?
Utility patent: 20 years from filing;
Design patent: 14 years from filing.
List the subject matters that are patentable
Processes; Machines; Products; Compositions of matter; Any improvement upon the above; New plant varieties
What purpose does a patent serve?
The purpose is to encourage inventive activity.
What purpose does a patent serve?
The purpose is to encourage inventive activity
List the elements of patentability.
Patentable subject matter;
Useful;
Novel;
Nonobvious.
Define “patent”.
A government-granted exclusive right to make, use or sell an invention.
Define “money laundering”.
The process by which one conceals the existence, illegal source, or illegal application of income and disguises that income to make it appear legitimate.
List the key money laundering statutes.
Bank Secrecy Act of 1970;
Money Laundering Control Act of 1986.
List the two key prohibitions related to money laundering.
Transaction money laundering;
Transportation money laundering
