Business

Which of the following grants the inventor of a new product or process

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 […]

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Date: September 3rd, 2020

Which of the following statements is true about the difference between

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 […]

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Date: September 3rd, 2020

Initech Incorporated, a multinational giant, runs a number of diversif

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 […]

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Date: September 3rd, 2020

Which of the following is most likely to be protected by a copyright?

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 […]

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Date: September 3rd, 2020

Silver Tape Corporation has developed a new type of adhesive tape. Whi

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 […]

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Date: September 3rd, 2020

The Boldovian government took Sea Lion Inc., a domestic, private shipb

QUESTION The Boldovian government took Sea Lion Inc., a domestic, private shipbuilding firm, into state ownership to save the company from bankruptcy. However, the other private competitors in the shipbuilding industry were enraged by this decision of the government. As a result, the government had to reduce the tax burden on all other private shipbuilding […]

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Date: September 3rd, 2020

Which of the following is true about the three broad types of economic

QUESTION Which of the following is true about the three broad types of economic systems? A. For a pure market economy to function efficiently product supply must be restricted. B. In a command economy, state-owned enterprises have little incentive to control costs and be efficient. C. The sole role of government in a command economy […]

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Date: September 3rd, 2020

Collectivist-inclined totalitarian states tend to enact laws that seve

QUESTION Collectivist-inclined totalitarian states tend to enact laws that severely restrict private enterprises, whereas the laws enacted by governments in democratic states, where individualism is the dominant political philosophy, tend to be pro-private enterprise and pro-consumer. This indicates that the: A. economic system of a country is independent of its legal system. B. legal system […]

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Date: September 3rd, 2020