Final Exam Flashcards
A design patent
All of the above
Examples of trade dress include
Shape of coke bottle
Under copy right law the doctrine under works for hire include
Does within scope of employment, the employer is the author
A statutorily secured monopoly right that is issued to inventors of useful new processes is know as
Patent
How long copyright last?
Authors life + 70 years
Infringement of a mark occurs when
Person without authorization uses identical mark cause confusion and deceive
A mark distinctive enough to clearly identify the origin of the goods and services can be protected under
Lanham Act
Plants patents have these elements
A,C,D
Which activity is an unfair employer practices , under national labor relations act
All of the above
Unequal wages for opposite sex demonstrated by employee, employer must prove why
All of the above
Plant Patents
for a new and distinctive variety of plant. term which begins on the date of the patent’s grant and ends twenty years from the date of application
Judaical limitations on the employment at will doctrine are based on
All of the Above
Trademarks are protected under what law?
Lanham Act
Can “neutral rules” in an employment context be prohibited under Title VII of Civil Rights Act?
Present Effects of Past Discrimination
Disparate Impact
Who administers fed unemployment compensatetion laws
the States
Prohibited under Civil Rights Act
Disparate Impact
Adverse hiring decisions violate the Civil Rights Act
Disparate Treatment(uses a critera to make employement decision) Present Effects of Past Discrimination (its face is “neutral,” but that actually perpetuates past discriminatory practices) Disparate Impact (employer adopts “neutral” rules that adversely affect a protected class and that are not justified as being necessary )
A judicial lien against a partner’s transferable interest
Creditors’ Rights – A partner’s interest in the partnership is subject to the claims of the partner’s individual creditors, who may obtain a charging order against the partner’s interest.
Limited Liability Companies
non-corporate form of business organization that provides limited liability to all of its owners (members), permits all of the members to participate in management of the business, and if properly structured, will be taxed as a partnership.
Limited Liability Companies member rights
Profit and Loss Sharing – allocated on the basis of the members’ contributions.
Distributions – Of cash or other assets; determined by the operating agreement or allocated on the basis of the members’ contributions.
Withdrawal – A member may withdraw and demand payment of her interest upon giving the notice specified in the statute or the LLC’s operating agreement.
Management – Unless agreed otherwise, each member has equal voice in the management. May be managed by one or more managers who may or may not be members.
Voting – Determined by LLC statutes, unless determined by the LLC operating agreement
Derivative Actions – A member may bring an action to recover a judgment on behalf of the LLC if the managers or members with authority refuse to do so.
Assignment of LLC interest – Generally, a member may assign only financial interests; to gain other rights, assignee must become a member of the LLC by being admitted by all remaining members.
What should a limited partner do if the Certificate of Formation he signed is filed in the wrong office?
the limited partners’ limited liability may be jeopardized. Upon learning of a defect in the formation of the partnership, limited partners will not lose their limited liability protection if they promptly withdraw from the business and renounce their interest in the profits.
What happens if an executive authorizes an employee to steal a trade secret from a competitor?
If a person wrongfully uses a trade secret, the owner may obtain damages and, where appropriate, injunctive relief.
fines of up to $500,000, imprisonment for up to 10 years, or both
Requirements of S corpoation
shareholder-related and corporation-related requirements. A corporation that satisfies all the requirements is known as a small business corporation. Only small business corporations can make an S election
what type of bond can pay out a higher interest rate is a corporation earnings reach certain specified levels?
Income Bonds
What rights can preferred shareholders have when corporate assets are distributed?
rights superior to those of common stockholders
What type of stock has a right to share in excess earning with the common stockholders after preferred payments
Par value stock
earnings have accumulated for several years and the directors have not declared divideneds
owe preferred stockholders backed up dividends
Economic Espionage Act of 1996
stealing, obtaining by fraud, or concealing such information;
without authorization copying, duplicating, sketching,
drawing, photographing, downloading, uploading,
photocopying, or mailing such information;
purchasing or possessing a trade secret with knowledge
that it has been stolen.
The act punishes thefts of trade secrets, as well as attempts and
conspiracies to steal secrets, with fines of up to $500,000, imprisonment for up to 10 years, or both.
Lie Detector Tests
The Federal Employee Polygraph Protection Act of 1988 prohibits private employers from requiring employees to undergo a lie detector test. The act exempts government employers and certain others
Americans with Disabilities Act of 1990
1990 requires, among other things, employers with 15 or more employees to exclude a person’s handicap from any hiring decision.
In closed shop an employee
must be a union member b4 can be hired
ABC Nursery, relate better to woman
violation of civil rights act
not true about social security
provide almost full retirement for almost all employees
non construction employers of 35 ppl must have written affirmative action plan executive order
only hv contracts more than $50,000
rec and park agency of state govt has 6 employees, hire teach gymnastics, 69 yr old is too old, best defense
ed is not able to do gymnastics
under pregnancy discrimination act
may not force them to leave may not fire refuse to hire or force take leave
a judicial lein against a partners transferable interest in a partnership is known as
Charging order
a partner who has no right in control of the business and has limited liability is called a
Limited partner
Arthur better inherited 1/3 in apartment complex operate it as a sideline, they are
patrnership
Shelter for lost animals, donations fund operations
No, no business for profit
a generally partnership limits liability on partners on obligations
limited liability partnership
general partner of a limited partnership has a relationship to limited partners
fiduciary
bill bonnie sole stock holder, wrongfully used to avoid personal liability, court disregarding corp and hold her responsible
piercing the corp veil
ajax corporation issued bonds pay min 6%, can pay more if reach certain levels, exchange for stock in corporation
convertible participating bond
board of directors cant declare dividend when
is insolvent
purchases own stock, issued but not outstanding anymore
treasury shares
which determines when to declare dividends and in what amount
board of directors
bonds corp can redeem
callable bonds
state laws that regulate the sales of securities
Blue Sky Laws
the economic Espionage act prohibits theft of trade secrets and gives punshiments
true
copyright charts for his class
false
accumulated earning but hasn’t declared dividends for 5 years
Dividends in Arrears, preferred stockholders get theirs first
Clauses that you would include
- The firm name and the identity of the partners;
- The nature and scope of the partnership business;
- The duration of the partnership;
- The capital contributions of each partner;
- The division of profits and sharing of losses;
