law chapters 40 and 50

Question 1

What is a Fee Simple?

Answer 1

Unrestricted ownership for an infinite period of time.

Question 2

What is a Life Estate?

Answer 2

Ownership for the duration of a person’s life.

Question 3

What is a Leasehold Estate?

Answer 3

Temporary right to occupy property under a lease.

Question 4

What is a Trust Estate?

Answer 4

Property held by one party for the benefit of another.

Question 5

What are subsurface rights?

Answer 5

Rights to minerals, oil, and gas beneath the surface of the property.

Question 6

What are zoning ordinances?

Answer 6

Regulations at the local level governing land use and development.

Question 7

What is a variance in zoning?

Answer 7

An exception to zoning rules.

Question 8

What constitutes a ‘taking’ in property law?

Answer 8

Zoning cannot deprive an owner of all economic value.

Question 9

What is the tenant’s right to possession?

Answer 9

The right to occupy the property.

Question 10

What does ‘quiet enjoyment’ mean in landlord-tenant law?

Answer 10

Protection from landlord interference.

Question 11

What is the habitability right?

Answer 11

The right to a livable residence.

Question 12

Is first refusal an inherent tenant right?

Answer 12

No.

Question 13

What is a sublease?

Answer 13

An arrangement where the tenant remains responsible for rent.

Question 14

What is an assignment in tenant liability?

Answer 14

Tenant may still be responsible unless released by the landlord.

Question 15

What can a tenant do if the landlord violates possession rights?

Answer 15

Terminate the lease or sue.

Question 16

What is constructive eviction?

Answer 16

Interference that prevents the tenant from using the property.

Question 17

What are the requirements for adverse possession?

Answer 17

• Open, notorious, and visible
• Exclusive and actual
• Continuous for the statutory period.

Question 18

How is title typically transferred?

Answer 18

By grant from the current owner.

Question 19

What is bailment?

Answer 19

When a bailor gives property to a bailee temporarily.

Question 20

What is an example of bailment?

Answer 20

Taking a car to a repair shop.

Question 21

What is the bailee’s duty?

Answer 21

Act with reasonable care and responsibility.

Question 22

What is eminent domain?

Answer 22

The government’s power to take private property for public use.

Question 23

What constitutional amendment is eminent domain derived from?

Answer 23

The Fifth Amendment.

Question 24

What is mislaid property?

Answer 24

Intentionally placed, then forgotten.

Question 25

What is lost property?

Answer 25

Involuntarily separated from the owner.

Question 26

What is abandoned property?

Answer 26

Owner has intentionally relinquished ownership.

Question 27

What is the definition of Intellectual Property (IP)?

Answer 27

Legal property rights that protect creations such as inventions, designs, and brand identity.

Question 28

What are the types of Intellectual Property?

Answer 28

* Trade secrets * Patents * Copyrights * Trademarks.

Question 29

What does the Lanham Act protect?

Answer 29

Registered trademarks from unauthorized use.

Question 30

What does the Copyright Act of 1976 protect?

Answer 30

Original works fixed in a tangible medium.

Question 31

What does the Patent Act govern?

Answer 31

Patent protections in the U.S.

Question 32

What does the Economic Espionage Act (1996) address?

Answer 32

Criminal penalties for theft of trade secrets.

Question 33

What is Intellectual Capital?

Answer 33

The value derived from knowledge, skills, and creativity of individuals.

Question 34

What is Tacit Knowledge?

Answer 34

Highly individualized, difficult to document or transfer.

Question 35

What is Explicit Knowledge?

Answer 35

Recorded and easily shared within an organization.

Question 36

What defines a Trade Secret?

Answer 36

Confidential business information providing a competitive advantage.

Question 37

What are examples of Trade Secrets?

Answer 37

* Formulas * Procedures * Processes.

Question 38

What does the Uniform Trade Secrets Act (UTSA) provide?

Answer 38

Civil remedies for trade secret misappropriation.

Question 39

What is a Patent?

Answer 39

A statutorily created right granting exclusive rights to an inventor for a limited time.

Question 40

What are the types of Patents?

Answer 40

* Utility Patent * Design Patent * Plant Patent.

Question 41

What is the Patentable Subject Matter Standard?

Answer 41

Prevents laws of nature, natural phenomena, and abstract ideas from being patented.

Question 42

What are the rules for Literal Patent Infringement?

Answer 42

* Rule of Exactness * Rule of Addition * Rule of Omission. * NOT Rule of Parallelism.

Question 43

Which industries rely heavily on Patents?

Answer 43

* Manufacturing * Technology * Pharmaceutical sectors.

Question 44

What is Copyright?

Answer 44

Protects original works of authorship fixed in a tangible medium.

Question 45

What are the requirements for Copyright Protection?

Answer 45

* Originality * Some degree of creativity * Fixed in a durable medium.

Question 46

What is Direct Copyright Infringement?

Answer 46

Unauthorized copying/use.

Question 47

What is Indirect Copyright Infringement?

Answer 47

When a party benefits from or contributes to copyright violations.

Question 48

What is Vicarious Infringement?

Answer 48

An employer benefits from an employee's infringement.

Question 49

What is Contributory Infringement?

Answer 49

Assisting or enabling infringement.

Question 50

What does a Trademark protect?

Answer 50

Words, phrases, symbols, or designs that distinguish goods or services.

Question 51

What are the types of Trademarks?

Answer 51

* Fanciful * Arbitrary * Trade Dress.

Question 52

What is key for Trademark Protection?

Answer 52

Distinctiveness.

Question 53

What is genericide in trademark law?

Answer 53

Losing trademark rights because a brand name becomes generic.

Question 54

What is Trademark Licensing?

Answer 54

Companies allow others to use trademarks via a licensing agreement.

Question 55

What is the final summary of key takeaways regarding IP?

Answer 55

* Intellectual property includes patents, copyrights, trademarks, and trade secrets. * Trade secrets are confidential business information providing competitive advantage. * Patents protect inventions and require uniqueness and utility. * Copyrights protect original works fixed in a durable medium. * Trademarks protect brand identity and require distinctiveness. * Legal frameworks like the Lanham Act, Copyright Act, and Economic Espionage Act help protect IP rights.