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Chapter 7.0

Legal Aspects of Buisness

QuestionAnswer
Monopoly one company provides a product or service without competition from others
price discrimination setting different prices for different customers
false advertising advertising that is misleading in some importent way
bankruptcy legal process that allows the selling of assests to pay off debts
patent an agreement in which th federal government gives an inventer the sole right for a 20 years to make, use, and sell an invention or process.
copyright federal government gives an author the sole right to reproduce, publish, and sell literary or artistic work for the life of the author, typically, plus 70 years
trademark distinguising 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 responsiblity for physical or economic in injury arising from incorrect data or wrongful use of data
cookies files of information about the user that some websites create on the user's own computer
interstate commerce buisness operations and transactions that cross state lines
intrastate commerce buisness transacted within within the state
licensing way to limit and control those who plan to enter certain types of buisnesses
public franchise is a contract that permits a person or organization to use public property for private profit
building codes control physical features of structure
zoning regulations specify which land areas may be used for homes an which areas may be used for different types of buisnesses
Created by: mihirikmon
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