Business Law- Chapter 7 Flashcards Preview

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Flashcards in Business Law- Chapter 7 Deck (20):

Intellectual Property Rights

Patents, copyrights, trademarks, and trade secrets. Federal and state laws protect intellectual property rights from misappropriation and infringement.


Trade Secret

A product formula, pattern, design, compilation of data, customer list, or other business secret.


Federal Patent Statute

A federal statute that establishes that requirements for obtaining a patent and protects patented inventions from infringement.


One-Year "on sale" doctrine

A doctrine that says a patent may not be granted if the invention was used by the public for more than one year prior to the filing of the patent application


American Inventors Protection Act

A federal statute that permits an inventor to file a provisional application with the U.S. Patent and trademark office three monthes before the filing of a final patent application, among other provisions


Patent infingement

Unauthorized use of another's patent.


Copyright Revision Act

A federal statute that 1. esablishes the requirements for obtaining a copyright and 2. protects copyrighted works from infringement


Copyright Infringement

An infringement that occurs when a party copies and substantial and material part of a plaintiff's copyrighted work without permission. A copyright holder may recover damages and other remedies against the infringer.


Fair use doctrine

A doctrine that permits certain limited use of a copyright by someone other than the copyright holder without the permission of the copyright holder


No Electronic Theft Act (NET act)

A federal statute that makes it a crime for a person to willfully infringe on a copyright work that exceeds $1000 in retail value.


Digital Millennium Copyright Act (DMCA)

A federal statute that prohibits unauthorized access to copyrighted digital works by circumventing encription technology or the manufacture and distribution of technologies designed for the purpose of circumventing encryption protection of digital works.


Lanham Act

An amended federal statute that 1. esablishes the requirements for obtaining a federal mark and 2. protects marks from infringement.



The collective name for trademarks, service marks, certification marks, and collective marks that can be trademarked.



A distinctive mark, symbol, name, word, motto or device that identifies the goods of a particular business.


Service Mark

A mark that distinguishes the services of the holder from those of its competitors



Being unique and fabricated


"Secondary Meaning"

A brand name that has evolved from an ordinary term.


Trademark Infringement

Unauthorized use of another's mark. The holder may recover damages and other remedies from the infringer.


Generic Name

A term for a mark that has become a common term for a product line or type of service and therefore has lost its trademark protection.


Federal Dilution Act

A federal statute that protects famous marks from dilution, erosion, blurring or tarnishing.