QUESTION Which of the following does the U.S. law and OECD convention allow as an exception? A. Bribing a foreign government official to obtain a contract B. Failure to keep records that would reveal if a violation of the Foreign Corrupt Practices Act has occurred C. Grease payments or speed money D. Private action E. […]
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 […]
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 […]
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
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 […]
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 […]
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 […]
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, […]
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 […]
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 […]
