Shared Flashcard Set

Details

Objective 5.00 Vocats
Business Ownership & Intellectual Property
41
Law
Not Applicable
12/08/2010

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Cards

Term
Jon has invented a new traveling aid and wants to start selling it today, but Jon has not received his paperwork from the government. What words should be placed on all the merchandise?
Definition
Patent Pending
Term
Harold decides to open a retail store, because he wants to be his own boss. What form of ownership is best for the business?
Definition
Sole Proprietorship
Term
Fran and Diane open a beauty shop together. They each invested money in the new business. What form of ownership are they developing?
Definition
Partnership
Term
Jennifer did not want to use her real name so she invented a name. Which term identifies the type of name Jennifer used?
Definition
Fictitious Name
Term
Which term identifies the profit paid through common stock to the shareholders, based upon the corporation’s performance?
Definition
Dividends
Term
Coca-Cola and McDonald’s have symbols that identify their products. What term is used to identify their symbols?
Definition
Trademarks
Term
NBA and NFL jerseys are sold with a distinctive mark. Which term identifies this mark on the jerseys?
Definition
Trademark
Term
Which term identifies the partnership that has one or more general partners and one or more limited partners?
Definition
Limited Partnership
Term
After video taping an airplane crash, Allen wanted to protect his rights to the video. What type of protection did he apply for?
Definition
Copyright
Term
Which special form of partnership is subject to all the rules of partnership law?
Definition
Joint Venture
Term
Which process is used in a lawsuit to sue all owners of a business together?
Definition
Joint Liability
Term
SNEAKERS is a tennis shoe store owned by Lee Parker. Which type of business is it?
Definition
Sole Proprietorship
Term
What must a general partnership have to conduct business for a profit?
Definition
Two or More Persons
Term
Which term implies the way two people conduct their business together?
Definition
Partnership by Prooof of Existence
Term
Which name is applied to a corporation that does not exist in law but exists in fact?
Definition
De Facto Corporation
Term
Which is the most common form of legal structure in the United States?
Definition
Sole Proprietorship
Term
Which term relates to an association of two or more people who operate a business for profit?
Definition
Partnership
Term
Which type of organization is incorporated out of state?
Definition
Foreign Corporations
Term
The company name “Starbuck” is protected. Which term identifies this protection?
Definition
Trademark
Term
Which term identifies a corporation that is owned and operated by another corporation?
Definition
Subsidiary
Term
The songwriter has a copyright on her latest hit. The song is known as what type of property?
Definition
Intellectual Property
Term
A popular company uses the slogan, “Just Do It”. What term identifies this slogan?
Definition
Trademark
Term
John Grisham protects the rights to his book, “The Firm” by filing which document?
Definition
Copyright
Term
James protects his new invention by applying for which type of protection?
Definition
Patent
Term
The expression of creative work is protected. What term is used to identify this protection?
Definition
Copyright
Term
After finishing his first novel, where will Paul file his application to protect his new book?
Definition
US Copyright Office
Term
After registering a trademark, what symbol should be placed by all protect marks?
Definition
R within a circle
Term
Shelly illegally copied Casey’s work. What term identifies her action?
Definition
Plagarism
Term
Which legal document includes the partnership law?
Definition
Uniform Partnership Act
Term
Which term identifies the person who buys stock?
Definition
Buyer
Term
Who owns part of a corporation?
Definition
Shareholders
Term
What did Nike file with the government to reserve the rights to the saying, “Just Do It”?
Definition
Trademark
Term
Which is a separate legal entity?
Definition
Corporation
Term
A corporation must be organized by whom?
Definition
Natural Persons
Term
Which person owns one or more shares of stock?
Definition
Shareholder
Term
what did Nike file
with the government to reserve the rights to the "Swoosh" symbol?
Definition
Trademark
Term
When would Nike be required to re-file for its rights to the "Swoosh" symbol?
Definition
10 Years
Term
How long can Nike reserve the rights to the “Swoosh” symbol?
Definition
Forever
Term
What symbol should be placed by the “Swoosh” symbol?
Definition
R within a circle
Term
If Thomas Edison invented the
light bulb today, how long would Edison have the rights to the light bulb?
Definition
17 Years
Term
What document protected Thomas Edison's light bulb invention?
Definition
Patent
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