Final Kahoot Flashcards
what is the key question that determines whether a monopoly is improper?
how did the company acquire or maintain its control?
which statute imposes civil liability for trade secret theft?
Uniform Trades Secrets Act
Uniform Trade Secrets Act
Statute applied to interstate commerce
- Applied to the misappropriation of trade secrets
- Defines trade secret, proper versus improper means of obtaining, misappropriation, and relief.
economic espionage act
law enacted to combat both foreign and domestic trade secret theft, criminalizing the theft of trade secrets and providing for penalties of up $10 million as well as imprisonment for up to 15 years
Federal Trade Commission (FTC) Act
To prevent business practices that are anti-competitive or deceptive or unfair to consumers; to enhance informed consumer choice and public understanding of the competitive process; and to accomplish this without unduly burdening legitimate business activity.
Lanham Act
- Creates federal cause of action even when unlikely to confuse consumers.
- Protects “distinctive” or “famous” marks such as McDonalds, Dell, Apple).
______ ads contain important misrepresentation likely to mislead consumers
deceptive
what does it mean for a copyrights work to be in public domain?
the copyright has expired and others can use and sell the work
a bailment transfers _____ of property
temporary possession
a promise to make a gift in the future is valid
false
a landlord must promptly return a tenants security deposit at the end of the lease
true
antitrust regulation started with the _____ industry
oil
when statute prohibits tying arrangements that lessen competition
Clayton Act
Clayton Act
Wanted the government to have the ability to attack a business practice early in its use to prevent a firm from becoming a monopoly. Strengthens the Sherman Act
Sherman Act
applies not only to buying and selling activities, but also to manufacturing and production activities. Is broken up into 2 main sections and has been used to regulate monopolies. Requires that monopoly position be gained because of a superior product as opposed to purposeful conduct to exclude competitors by other means. (microsoft).
Robinson-Patman Act
Prohibits price discrimination. Makes it illegal to charge different prices to buyers when the marginal costs of the seller of those goods are the same. Example, offering free advertising to one buyer, and not to another would be considered a violation.
who enforces antitrust laws?
Federal Trade Commission and Department of Justice
Which of the following competitive strategies is a per se violation of antitrust laws
Horizontal market division
Horizontal market division
it is a per se violation for competitors to divide up territories or customers
Per Se violations of the Sherman Act
price fixing, bid-rigging, horizontal customer allocation, and territorial allocation agreements
Vertical market division
An agreement between a company and a dealer or distributor that prevents the dealer or the distributor from selling outside a certain territory or to a certain class of customer (hierarchy within a company (top-down))
refusal to deal
-Joint refusals to deal (group boycotts) are given close scrutiny.
-Unilateral refusals to deal violate the Sherman Act if: the firm refusing to deal has (or is likely to acquire) monopoly power, AND the refusal is likely to have an anticompetitive effect on a particular market.
resale price maintenance
RPM typically involves an agreement between a manufacturer and retailer setting the prices at which the retailer will resell the manufacturer’s goods to consumers
when property is held as a tenancy in common, who inherits the property when one of the contestants dies?
the heirs of the deceased co-tenant
when do gifts cause mortis become valid
when the donor dies as expected
in antitrust law, vertical strategies are more heavily scrutinized than horizontal strategies
false
copyright protection is automatic Ince the creation is in tangible form
true
“Clorox” is an example of what category of trademark
fanciful
what does the Magnuson Moss Warranty Act do?
ensures consumers understand written warranties on products
a design patent is the most common type of patent
false
what type of property interest gives someone the right to enter property and remove something of value
profit
the truth in lending act applies to which loan
- a consumer loan
- a loan that will be repaid in more than 4 payments
- a loan from someone in the lending business
conscious parallelism is a per se violation of antitrust laws
false
what is a resale price maintenance?
when a manufacturer sets the minimum price for a product
monopolization is illegal under the Robinson-Patman Act
False
Bill rents a building from “August 1, 2023 through December 31, 2023” This is a _____
tenancy for years
mental processes can be patented
false
_____ is when a trademark becomes associated with unwholesome goods
tarnishment
what is the term for the landlords right to occupy property at the end of a lease?
revisionary interest
what duty does a bailee owe in a bailment for the bailor’s sole benefit?
duty to not be grossly negligent
an arrangement where a buyer must purchase an undesirable product to get a desirable product is a/an____
tying arrangement
which of the following is fair use of copyrighted material
making up funny lyrics to a song and sharing the song (parody)
which of the following interests in property refers to marital property?
tenancy by the entirety
predatory pricing cases are easy for a plaintiff to win
false
which of these is exempt form the telephone consumer protection act
united way
which of these is constructive eviction
landlord not making a repair, causing the tenant to move out
which of these statues prohibits abuse by collection agencies?
Fair Debt Collection Practices Act
What is the heart of the work?
the most important part of a copyrighted work
“Holiday Inn” is an example of a collective mark
false
What is the goal of the Consumer Product Safety Act
to prevent injuries form defective products
which agency regulates consumer financial products
consumer financial protection bureau
