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Buss. Org. Magt.-7

Vocabulary

QuestionAnswer
monopoly exists when only one company provides a product or service without competition from other companies.
price descrimination setting different prices for different customers.
false advertising is advertising that is misleading in some important way, icluding the failure to reveal facts about possible results from using the advertised products.
bankrupcy is a legal process that allows the selling of assets to pay off debts.
patent is an agreement in which the federeal government gives an inventor the sole right for 20 years to make, use, and sell an invention or process.
copyright is similar to a patent in that the federal government gives an author a sole right to reproduce, publish, and sell literary or artistic work for the life of the author typically plus 70 years.
trademark is a distingushing name, symbol, or special mark placed on a good or service that is legally reserved for the sole use of the owner.
information liability the responsibility for physical or economic injury arising from incorrect data or wrongful use of data.
cookies are files of information about the user that some Web sites create and store on the user's own computer.
interstate commerce is defined as business operations and transactions that cross state lines, such as products that are produced in one state and sold in other states.
intrastate commerce is defined as business transacted within a state.
licensing as a way to limit and control those who plan to enter cartain types of businesses.
public franchise is a contract that permits a person or organization to use public property for private profit.
building codes control physical features of structures.
zoning regulations specify which land areas may be used for homes and which areas may be used for different types of businesses.
Created by: otakugirl29
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