Final Exam

Question 1

A design patent

Answer 1

All of the above

Question 2

Examples of trade dress include

Answer 2

Shape of coke bottle

Question 3

Under copy right law the doctrine under works for hire include

Answer 3

Does within scope of employment, the employer is the author

Question 4

A statutorily secured monopoly right that is issued to inventors of useful new processes is know as

Answer 4

Patent

Question 5

How long copyright last?

Answer 5

Authors life + 70 years

Question 6

Infringement of a mark occurs when

Answer 6

Person without authorization uses identical mark cause confusion and deceive

Question 7

A mark distinctive enough to clearly identify the origin of the goods and services can be protected under

Answer 7

Lanham Act

Question 8

Plants patents have these elements

Answer 8

A,C,D

Question 9

Which activity is an unfair employer practices , under national labor relations act

Answer 9

All of the above

Question 10

Unequal wages for opposite sex demonstrated by employee, employer must prove why

Answer 10

All of the above

Question 11

Plant Patents

Answer 11

for a new and distinctive variety of plant. term which begins on the date of the patent’s grant and ends twenty years from the date of application

Question 12

Judaical limitations on the employment at will doctrine are based on

Answer 12

All of the Above

Question 13

Trademarks are protected under what law?

Answer 13

Lanham Act

Question 14

Can “neutral rules” in an employment context be prohibited under Title VII of Civil Rights Act?

Answer 14

Present Effects of Past Discrimination

Disparate Impact

Question 15

Who administers fed unemployment compensatetion laws

Answer 15

the States

Question 16

Prohibited under Civil Rights Act

Answer 16

Disparate Impact

Question 17

Adverse hiring decisions violate the Civil Rights Act

Answer 17

Disparate Treatment(uses a critera to make employement decision)
Present Effects of Past Discrimination (its face is “neutral,” but that actually perpetuates past discriminatory practices)
Disparate Impact (employer adopts “neutral” rules that adversely affect a protected class and that are not justified as being necessary )

Question 18

A judicial lien against a partner’s transferable interest

Answer 18

Creditors’ Rights – A partner’s interest in the partnership is subject to the claims of the partner’s individual creditors, who may obtain a charging order against the partner’s interest.

Question 19

Limited Liability Companies

Answer 19

non-corporate form of business organization that provides limited liability to all of its owners (members), permits all of the members to participate in management of the business, and if properly structured, will be taxed as a partnership.

Question 20

Limited Liability Companies member rights

Answer 20

Profit and Loss Sharing – allocated on the basis of the members’ contributions.
Distributions – Of cash or other assets; determined by the operating agreement or allocated on the basis of the members’ contributions.
Withdrawal – A member may withdraw and demand payment of her interest upon giving the notice specified in the statute or the LLC’s operating agreement.
Management – Unless agreed otherwise, each member has equal voice in the management. May be managed by one or more managers who may or may not be members.
Voting – Determined by LLC statutes, unless determined by the LLC operating agreement
Derivative Actions – A member may bring an action to recover a judgment on behalf of the LLC if the managers or members with authority refuse to do so.
Assignment of LLC interest – Generally, a member may assign only financial interests; to gain other rights, assignee must become a member of the LLC by being admitted by all remaining members.

Question 21

What should a limited partner do if the Certificate of Formation he signed is filed in the wrong office?

Answer 21

the limited partners’ limited liability may be jeopardized. Upon learning of a defect in the formation of the partnership, limited partners will not lose their limited liability protection if they promptly withdraw from the business and renounce their interest in the profits.

Question 22

What happens if an executive authorizes an employee to steal a trade secret from a competitor?

Answer 22

If a person wrongfully uses a trade secret, the owner may obtain damages and, where appropriate, injunctive relief.

fines of up to $500,000, imprisonment for up to 10 years, or both

Question 23

Requirements of S corpoation

Answer 23

shareholder-related and corporation-related requirements. A corporation that satisfies all the requirements is known as a small business corporation. Only small business corporations can make an S election

Question 24

what type of bond can pay out a higher interest rate is a corporation earnings reach certain specified levels?

Answer 24

Income Bonds

Question 25

What rights can preferred shareholders have when corporate assets are distributed?

Answer 25

rights superior to those of common stockholders

Question 26

What type of stock has a right to share in excess earning with the common stockholders after preferred payments

Answer 26

Par value stock

Question 27

earnings have accumulated for several years and the directors have not declared divideneds

Answer 27

owe preferred stockholders backed up dividends

Question 28

Economic Espionage Act of 1996

Answer 28

stealing, obtaining by fraud, or concealing such information; without authorization copying, duplicating, sketching, drawing, photographing, downloading, uploading, photocopying, or mailing such information; purchasing or possessing a trade secret with knowledge that it has been stolen. The act punishes thefts of trade secrets, as well as attempts and conspiracies to steal secrets, with fines of up to $500,000, imprisonment for up to 10 years, or both.

Question 29

Lie Detector Tests

Answer 29

The Federal Employee Polygraph Protection Act of 1988 prohibits private employers from requiring employees to undergo a lie detector test. The act exempts government employers and certain others

Question 30

Americans with Disabilities Act of 1990

Answer 30

1990 requires, among other things, employers with 15 or more employees to exclude a person’s handicap from any hiring decision.

Question 31

In closed shop an employee

Answer 31

must be a union member b4 can be hired

Question 32

ABC Nursery, relate better to woman

Answer 32

violation of civil rights act

Question 33

not true about social security

Answer 33

provide almost full retirement for almost all employees

Question 34

non construction employers of 35 ppl must have written affirmative action plan executive order

Answer 34

only hv contracts more than $50,000

Question 35

rec and park agency of state govt has 6 employees, hire teach gymnastics, 69 yr old is too old, best defense

Answer 35

ed is not able to do gymnastics

Question 36

under pregnancy discrimination act

Answer 36

may not force them to leave may not fire refuse to hire or force take leave

Question 37

a judicial lein against a partners transferable interest in a partnership is known as

Answer 37

Charging order

Question 38

a partner who has no right in control of the business and has limited liability is called a

Answer 38

Limited partner

Question 39

Arthur better inherited 1/3 in apartment complex operate it as a sideline, they are

Answer 39

patrnership

Question 40

Shelter for lost animals, donations fund operations

Answer 40

No, no business for profit

Question 41

a generally partnership limits liability on partners on obligations

Answer 41

limited liability partnership

Question 42

general partner of a limited partnership has a relationship to limited partners

Answer 42

fiduciary

Question 43

bill bonnie sole stock holder, wrongfully used to avoid personal liability, court disregarding corp and hold her responsible

Answer 43

piercing the corp veil

Question 44

ajax corporation issued bonds pay min 6%, can pay more if reach certain levels, exchange for stock in corporation

Answer 44

convertible participating bond

Question 45

board of directors cant declare dividend when

Answer 45

is insolvent

Question 46

purchases own stock, issued but not outstanding anymore

Answer 46

treasury shares

Question 47

which determines when to declare dividends and in what amount

Answer 47

board of directors

Question 48

bonds corp can redeem

Answer 48

callable bonds

Question 49

state laws that regulate the sales of securities

Answer 49

Blue Sky Laws

Question 50

the economic Espionage act prohibits theft of trade secrets and gives punshiments

Answer 50

true

Question 51

copyright charts for his class

Answer 51

false

Question 52

accumulated earning but hasn't declared dividends for 5 years

Answer 52

Dividends in Arrears, preferred stockholders get theirs first

Question 53

Clauses that you would include

Answer 53

1. The firm name and the identity of the partners; 2. The nature and scope of the partnership business; 3. The duration of the partnership; 4. The capital contributions of each partner; 5. The division of profits and sharing of losses;