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BLAW Test 4
Final
| Question | Answer |
|---|---|
| For how long does a copyright last? | The author's life plus 70 years. |
| A statutorily secured monopoly right that is issued to inventors or discoverers of useful, new devices or processes is known as a: | Patent. |
| Under copyright law, the doctrine of works for hire states that: | If an employee prepares a work within the scope of her employment, her employer is considered the author of the work. |
| Examples of trades dress include: | The shape of a Coca-Cola Bottle. |
| A design patent: | Has a duration of 14 years; refers to ornamental designs for manufactured products; requires a showing of novelty, ornamentality, and non-obviousness. |
| Infringement of a mark occurs when: | A person without authorization uses an identical or substantially similar mark that is likely to cause confusion, to cause mistake, or to deceive. |
| Which of the following activities is identified as an unfair employer practice under the NLRA? | To interfere with employees' rights to unionize and bargain collectively; to dominate the union; to discriminate against union members; to refuse to bargain in good faith with duly established employee representatives. |
| Judicial limitations on the employment-at-will doctrine have been based on: | Contract law; Tort law; and public policy. |
| Who administers the federal unemployment compensation laws? | The states. |
| In a "closed shop," an employee" | Must be a union member before being hired. |
| ABC Company sells nursery products. If only hires women as sales representatives because it thinks that its customers relate better to women. Which of the following is true? | This is a violation of Title VII of the 1964 Civil Rights Act. |
| Which of the following is NOT true about social security? | The purpose is to provide full retirement to almost all employees. |
| Shopville Industries, Inc. a non-construction employer of 35 people, must have a written affirmative action plan subject to the Executive Order prohibiting discrimination based on race, sex, religion, or national origin by federal contractors. | Only if it has contracts for more than $50,000. |
| The Recreation and Parks Agency of the state government has six employees and is interviewing for a person to teach gymnastics and arts and crafts to 3-5 years olds. Ed, age 68, applies, but its told he is too old. If he sues under the Age Discrimination? | Ed is not able to do gymnastics. |
| Under the Pregnancy Discrimination Act: | Employers may not refuse to hire a pregnant woman, fire her, or force her to take maternity leave. |
| A partner who has no right to participate in control of the business and who has limited liability is called a: | Limited partner. |
| Sue, Barb, and Carlotta agree to put in $1,000 each to set up a shelter for lost animals. They each work two days a week. Donations fund the day-to-day operations. Do they have a partnership? | No, because there is no business for profit. |
| A general partnership that, by making the statutorily required filing, limits the liability of its partners for some or all of the partnership's obligation is known as a: | Limited Liability Partnership. |
| A general partner of a limited partnership has a _________________ relationship to the general and limited partners. | Fiduciary. |
| Bill Bonney, the sole stockholders of Kidd Corporation, wrongfully used the corporation to avoid a personal liability. A court's disregarding the corporate entity and holding Bonney personally liable is called: | Piercing the corporate veil. |
| The board of directors cannot declare dividends when the corporation: | Is insolvent. |
| Yukon Corporation purchases 1,000 shares of its own stock from Jones at a price of $50 a share. These shares. which are now issued, but not outstanding, are known as: | Treasury shares. |
| Which of the following determines when to declare dividends and in what amount? | The board of directors. |
| Bonds subject to a redemption provision, which permits the corporation to redeem, or pay off, all or a part of the issue before maturity at a specified redemption price are known as: | Callable bonds. |
| State Laws that regulates the issuance and sale of securities are known as: | Blue Sky Laws. |
| Plant patents: | Asexually produced (Modified human made). (a) novel; (b) distinctive; (c) Non-obvious. 20 years from the filing date. Is granted by the Gov. to an inventor who has invented or discovered and asexually reproduced a distinct and new variety of plant. |
| Trademarks are protected under what law? | Article I, Section 8, of the US constitution . |
| When employer pays unequal wages for equal work to members of the opposite sex, on what bases can he defend the pay differential? | The EPA’s four affirmative defenses allows unequal pay for equal work when the wages are set "pursuant to: Defense: 1.) Differential based on a seniority system, 2.) A merit system, 3.) A system that measures quality, quantity. |
| Can "neutral rules" in an employment context be prohibited under Title VII of the 1964 Civil Rights Act? | Neutral rules and policies regarding this generally DON'T violate Title VII, they must be enforced in an evenhanded manner, without regard to national origin. The rules affect a protected class an that are not justified as being necessary to business. |
| Be able to recognize when adverse hiring decisions run afoul of the Civil Rights Act of 1964. | Applies to employers having 15 or more employees and prohibits discrimination in hiring or promoting based on race, color, sex, religion, or national origin. Pregnant women are considered disabled. |
| A judicial lien against a partner's transferable interest. What do we call that? | A charging order- can put a lien on one person partnership; interest not be partnership. |
| Be able to recognize a partnership when you see it in the fact situation. | Spender-Partner. Sole Partnership: One has complete control. General Partnership: Two or more people. |
| Can an LLC have only one member? | In Texas they can have one member of LLC. Tax like a partnership or 1 member sole proprietor can sign consent to do things. |
| What should a limited partner do if the Certificate of Formation which he signed is filled in the wrong office? | The limited partners' limited liability may be jeopardized. Limited partners will NOT lose their limited liability protection if they promptly withdraw from the business and renounce their interest in profits. |
| What happens if an executive authorizes an employee to steal a trade secret from a competitor? | The Economic Espionage Act of 1966 punishes theft of trade secrets, as well as attempts and conspiracies to steal secrets, with fines of up to $500k, imprisonment for up to 10 years, or both. |
| What are the requirements of a S corporation? | A subchapter S Corp. meets specified requirements of Subchapter S of the Internal Revenue Code and is thereby taxed essentially as though it were a partnership it is taxed ONLY ONCE, at the individual shareholder level. They elect to pass income, losses.. |
| What type of bond can pay out a higher interest rate if corporate earnings reach certain specified levels? | Income Bond: Bases the interest payment on level of corp. earnings. An issuer will pay a higher interest rate for a long-term bond. |
| What rights can preferred shareholders have when corporate assets are distributed after dissolution? | Liquidation Rights. |
| What type of stock has a right to share in excess earnings with the common stockholders after preferred payments? | Preferred Stock. |
| Earnings have accumulated for several years and the directors have not declared dividends. | Retained Earnings account may go to a debit balance. This is called a Deficit. If the net income is large enough, the Board of Directors may declare a dividend |
| T/F: How to keep a trade secret... secret. | Intellectual Property. Compilation of information which is not generally known or reasonably ascertainable by others, and by which a business can obtain an economic advantage over competitors or customers |
| T/F: Economic Espionage Act of 1996. | 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 |
| T/F: Copying copyrighted works for the classroom: | Fair Use. |
| T/F: The federal law for using a lie detector test: | You are never under any legal obligation to take a lie detector test in an investigation. You can refuse to. |
| T/F: Special accommodations under the American with Disabilities Act of 1990. | Does not have to accept what they say. It has to be reasonable for them to leave... |
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abichavez1
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