Business Law-Chapter 17 Flashcards Preview

Business Law > Business Law-Chapter 17 > Flashcards

Flashcards in Business Law-Chapter 17 Deck (16):
1

E-commerce

The sale of goods and services by computer over the internet.

2

Internet

collection of millions of computers that provide a network of electronic connections between the computers.

3

World Wide Web

An electronic connection of millions of computers that support a standard set of rules for the exchange of information.

4

E-mail

Electronic written communication between individuals using computers connected to the internet.

5

Domain Name

A unique name that identifies an individual's or company's website.

6

E-mail and web contracts

Contracts that are entered into by e-mail and over the World Wide Web.

7

Uniform Computer Information Transactions Act (UCITA)

A model state law that creates contract law for the licensing of information technology rights.

8

License

A contract that transfers limited rights in intellectual property and informational rights.

9

Licensor

An owner of intellectual property or informational rights who transfers rights in the property or information to the licensee.

10

Licensee

A party who is granted limited rights in or access to intellectual property or informational rights owned by a licensor.

11

Exclusive License

A license that grants the license exclusive rights to use informational rights for a specified duration.

12

Licensing Agreement

A detailed and comprehensive written agreement between a licensor and a licensee that sets forth the express terms of their agreement.

13

Cancellation

The termination of a contract by a contracting party upon the material breach of the contract by the other party.

14

Licensor's Damages

Monetary damages that a licensor may recover from a licensee who breaches a contract

15

Licensee's Damages

Monetary damages that a licensee may recover from a licensor who breach a contract.

16

Cover

A licensee's right to engage in a commercially reasonable substitute transaction after the licensor has breached the contract.