QUESTION As per the U.S. law and OECD convention, which of the following is most likely to be considered as a grease payment? A. Gold Fire Inc. paid a fine of $2500 for violating the labor laws in a foreign country. B. Gold Fire Inc. made a small payment of $20 to speed up some […]
Date: September 3rd, 2020
QUESTION Products of the mind, such as computer software, a screenplay, a music score, or the chemical formula for a new drug, constitute: A. assets which receive no protection under law. B. non-performing assets. C. tangible assets. D. intellectual property. E. real property. ANSWER D Intellectual property refers to property that is the product […]
Date: September 3rd, 2020
QUESTION Which of the following refers to documents that specify the conditions under which an exchange is to occur and detail the rights and obligations of the parties involved? A. Memoranda B. Manifestoes C. Contracts D. White papers E. Minutes ANSWER C
Date: September 3rd, 2020
QUESTION Which of the following grants the inventor of a new product or process exclusive rights for a defined period to the manufacture, use, or sale of that invention? A. Copyright B. Trademark C. Patent D. Warranty E. Service mark ANSWER C A patent grants the inventor of a new product or process exclusive […]
Date: September 3rd, 2020
QUESTION Which of the following statements is true about the difference between contracts in common law and civil law systems? A. Contracts drafted under a common law system tend to be longer than those drafted under a civil law system. B. Contracts drafted under a civil law system tend to be more specific than those […]
Date: September 3rd, 2020
QUESTION Initech Incorporated, a multinational giant, runs a number of diversified businesses. Which of the following can be considered as an intellectual property of the firm? A. Income arising from renting land and buildings B. Profits arising from the sale of agricultural crops C. Interest earned by lending capital to other firms D. Innovations and […]
Date: September 3rd, 2020
QUESTION When firms do not wish to accept the rules of the CIGS, what do they often opt for to settle contract disputes? A. UN involvement B. Arbitration C. Collective bargaining D. The common law system of the United States E. Islamic law ANSWER B When firms do not wish to accept the CIGS, […]
Date: September 3rd, 2020
QUESTION Which of the following is most likely to be protected by a copyright? A. A new manufacturing process invented in a company B. A newly invented telecommunication device C. Tangible property like land and building D. Movies produced and directed by a person E. A new type of car invented by an automobile company […]
Date: September 3rd, 2020
QUESTION The bundle of legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource are called what type of rights? A. Civil B. Political C. Shareholder D. Property E. Public ANSWER D Property rights refer to the legal […]
Date: September 3rd, 2020
QUESTION Silver Tape Corporation has developed a new type of adhesive tape. Which of the following types of legal protections can grant the company exclusive rights for a defined period to the manufacture, use, or sale of the new adhesive tape? A. Warrant B. Patent C. Copyright D. Trademark E. Writ ANSWER B A […]
Date: September 3rd, 2020
