Final Kahoot Flashcards
(52 cards)
what is the key question that determines whether a monopoly is improper?
how did the company acquire or maintain its control?
which statute imposes civil liability for trade secret theft?
Uniform Trades Secrets Act
Uniform Trade Secrets Act
Statute applied to interstate commerce
- Applied to the misappropriation of trade secrets
- Defines trade secret, proper versus improper means of obtaining, misappropriation, and relief.
economic espionage act
law enacted to combat both foreign and domestic trade secret theft, criminalizing the theft of trade secrets and providing for penalties of up $10 million as well as imprisonment for up to 15 years
Federal Trade Commission (FTC) Act
To prevent business practices that are anti-competitive or deceptive or unfair to consumers; to enhance informed consumer choice and public understanding of the competitive process; and to accomplish this without unduly burdening legitimate business activity.
Lanham Act
- Creates federal cause of action even when unlikely to confuse consumers.
- Protects “distinctive” or “famous” marks such as McDonalds, Dell, Apple).
______ ads contain important misrepresentation likely to mislead consumers
deceptive
what does it mean for a copyrights work to be in public domain?
the copyright has expired and others can use and sell the work
a bailment transfers _____ of property
temporary possession
a promise to make a gift in the future is valid
false
a landlord must promptly return a tenants security deposit at the end of the lease
true
antitrust regulation started with the _____ industry
oil
when statute prohibits tying arrangements that lessen competition
Clayton Act
Clayton Act
Wanted the government to have the ability to attack a business practice early in its use to prevent a firm from becoming a monopoly. Strengthens the Sherman Act
Sherman Act
applies not only to buying and selling activities, but also to manufacturing and production activities. Is broken up into 2 main sections and has been used to regulate monopolies. Requires that monopoly position be gained because of a superior product as opposed to purposeful conduct to exclude competitors by other means. (microsoft).
Robinson-Patman Act
Prohibits price discrimination. Makes it illegal to charge different prices to buyers when the marginal costs of the seller of those goods are the same. Example, offering free advertising to one buyer, and not to another would be considered a violation.
who enforces antitrust laws?
Federal Trade Commission and Department of Justice
Which of the following competitive strategies is a per se violation of antitrust laws
Horizontal market division
Horizontal market division
it is a per se violation for competitors to divide up territories or customers
Per Se violations of the Sherman Act
price fixing, bid-rigging, horizontal customer allocation, and territorial allocation agreements
Vertical market division
An agreement between a company and a dealer or distributor that prevents the dealer or the distributor from selling outside a certain territory or to a certain class of customer (hierarchy within a company (top-down))
refusal to deal
-Joint refusals to deal (group boycotts) are given close scrutiny.
-Unilateral refusals to deal violate the Sherman Act if: the firm refusing to deal has (or is likely to acquire) monopoly power, AND the refusal is likely to have an anticompetitive effect on a particular market.
resale price maintenance
RPM typically involves an agreement between a manufacturer and retailer setting the prices at which the retailer will resell the manufacturer’s goods to consumers
when property is held as a tenancy in common, who inherits the property when one of the contestants dies?
the heirs of the deceased co-tenant
