biz
Which of the following is true regarding what may be the subject of a patent?
A product, a process, an invention, or a plant produced by asexual reproduction may be the subject of a patent.
Which of the following is true regarding trade secret protection?
A trade secret is protected from unlawful appropriation by competitors as long as it is kept secret and consists of elements not generally known in the trade.
which of the following illustrates a firm having a triple bottom-line (3BL) approach?
Brink-T Technologies donates ten percent of its profit to charity, reduces toxic emission from its plants, and has ten percent increase in financial turnovers.
Which of the following is a mark identifying the producers as belonging to a larger group, such as a trade union?
Collective mark
The _____ is a government agency within the Federal Reserve that oversees financial products and services.
Consumer Financial Protection Bureau
____ refers to the actions of an organization that are targeted toward achieving a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations.
Corporate conscience
Which of the following is an example of corporate social responsibility?
Dawson Inc. uses clean-fuel technology shuttle for employee conveyance.
A[n] _______________ mark identifies a significant characteristic of the product but is not the common name of the product.
Descriptive
In which of the following orders of ascending strength may marks fall?
Generic, descriptive, suggestive, arbitrary or fanciful.
According to Joseph F. Keefe, which of the following is a major trend behind the corporate social responsibility phenomenon?
Globalization
Which of the following consists of the fruits of one's mind? Theoretical property
Intellectual property
Which of the following is true of the King I report?
It considered corporations' impact on the larger community.
Which of the following is true of cyberliability?
It extends to any form of harassment that reaches an employee via e-mail.
Which of the following is true of a whistle-blower hotline?
It is a telephone line that employees use to anonymously alert a company of suspected misconduct.
"Scuba Diving." Marcy invented a new type of mask that was not subject to fogging for scuba divers and obtained a patent on it. She agrees to allow Jenny to manufacture and sell the mask. She receives a sum of money for every mask that Jenny sells. Marcy also entered into an agreement with Frank to allow him to sell the masks, but only if he also purchased non-patented diving suits from Marcy. All parties proceeded to do very well with their sales. Which of the following describes the agreement between Marcy and Frank?
It is an illegal tying arrangement.
Which of the following is true of the Foreign Corrupt Practices Act?
It is considered violated even if a bribe was unsuccessful.
Which of the following is true of thick consent?
It is given when employees have realistic job alternatives.
Which of the following is an example of an organization's instrumental approach to corporate social responsibility (CSR)?
Larsen's Corp., an investment company, uses different mechanisms to increase profits and has performance incentives for its employees.
Which of the following is a principle of The Paris Convention of 1883?
National treatment
As recognized in the case in the text, Toys "R" Us Inc., v. Canarsie Kiddie Shop Inc., to obtain trademark protection, a descriptive term must have attained ____________.
Secondary meaning
_____ refers to a work arrangement that allows employees to work from home and log into to the company's network remotely.
Telecommuting
Which of the following was the result at the trial court level in the Case Opener involving Apple's claim that Samsung copied Apple's design of the iPhone and iPad and Samsung's claim that Apple infringed Samsung's patents?
That Samsung infringed Apple's patents but that Apple did not infringe Samsung's patents.
Which of the following was the result at the U.S. Supreme Court level in Metro-Goldwyn-Mayer studios Inc., v. Grokster Ltd., the case in the text in which the Court addressed the legality of the defendants allowing users to share digital, typical music, files?
That there was no evidence that the defendants acted to promote infringement and that, therefore, the district court properly dismissed the lawsuit.
Which of the following is the oldest treaty designed to protect artistic rights?
The Berne Convention of 1886
Which of the following is true of facilitation payments under the Foreign Corrupt Practices Act (FCPA)?
The FCPA finds them acceptable if they expedite a routine governmental action.
Which of the following did the government formulate to penalize corporate wrongdoing?
The Sarbanes-Oxley Act
Which of the following is true regarding whether the shape of a product or package may be a trademark?
The shape of a product may be a trademark if it is nonfunctional but the shape of a package may not be a trademark.
_____ of the Sarbanes-Oxley Act addresses issues related to corporate and criminal fraud accountability.
Title VIII
A[n] ________ is a distinctive mark, word, design, picture, or arrangement that is used by a producer in conjunction with a product and tends to cause consumers to identify the product with the producer.
Trademark
When a patent is issued for an object, it gives its holder the exclusive right to produce, sell, and use the object of the patent for __________ years from the date of application.
Twenty
A[n] ____________ mark is one that requires imagination, thought, and perception to reach a conclusion as to the nature of the goods.
suggestive
Because of recent advances in technology, information can be digitized and transmitted over fiber-optic cables. What privacy-related issue does this raise for the customer?
Should customers be informed that their personal information is being sent to other countries?
____ CSR refers to philanthropic approach to corporate social responsibility in which organizations target programs that will generate the most positive publicity or goodwill for the organization but which runs the greatest risk of being perceived as self-serving behavior on the part of the organization.
Strategic
Which of the following illustrates that a company has failed at implementing corporate social responsibility (CSR)?
The company does not pay all taxes related to the profitable business operations.
In addition to achieving social benefits, which of the following best illustrates that a company is effectively implementing corporate social responsibility (CSR)?
The company fulfills its legal obligations
Which of the following explains why employers are in favor of monitoring and restricting the actions of their employees?
The implications of vicarious liability for employers
Which of the following approaches to corporate management is considered simplistic because it assumes that there are no external consequences to the actions of a corporation?
The instrumental approach
Which of the following statements is true of the social contract approach to corporate management?
The modern social contract approach argues that there is an obligation for the corporation to meet the demands of the society rather than just the demands of a targeted group of customers.
Which of the following is a criticism of the triple bottom-line (3BL) approach?
There has been no real evidence of how 3BL can be measured.
The King II report on corporate governance:
formally recognized the economic, environmental, and social aspects of a company's activities.
The Sarbanes-Oxley Act of 2002 is also known as:
he Corporate and Criminal Fraud Accountability Act.
The Federal Sentencing Guidelines for Organizations:
holds businesses liable for the criminal acts of their employees and agents.
Corporate social responsibility assumes that the corporation:
is operating in a competitive environment.
Under the FGSO, the death penalty:
is warranted where the organization was operating primarily for a criminal purpose.
It is difficult to track the history of internal whistle-blowing because:
it rarely receives attention from the media.
Setting up a governance system that allows organizations to be directed and controlled:
leads to underpinning the integrity and efficiency of financial markets.
The outside members of a company's board of directors:
may comprise of the company's creditors, suppliers, or consultants.
Bribes are those payments which:
nduce officials to act in violation of their lawful duty.
Bector Airlines supports relief camps in the Republic of Cadmia with donations of both money and employee-donated volunteer hours. It also provides packaged food in times of natural crises such as hurricanes, earthquakes, etc. This is an example of _____ CSR.
altruistic
Cyberliability
applies the legal concept of liability to the world of computers.
The Dodd-Frank Wall Street Reform and Protection Act stipulated that if more than $1 million is collected, the whistle-blower is entitled to _____ of the monies collected.
between 10 and 30 percent
Title XI of the Sarbanes-Oxley Act focuses on:
corporate fraud and accountability
One of the primary responsibilities of an organization's _____ is to ensure compliance with the company's internal code of ethics.
corporate governance committee
The _____ is a fine that is set high enough to match all the organization's assets and effectively puts the organization out of business.
death penalty
The Foreign Corrupt Practices Act:
encompasses all the measures that were previously in use to curb unethical overseas transactions.
Prior to 2002, legal protection for whistle-blowers
encouraged the moral behavior of employees who felt compelled to speak out.
Organizations pursuing a clearly defined sense of social conscience in managing their financial responsibilities to shareholders, their legal responsibilities to their local community and society as a whole, and their ethical responsibilities to do the right thing for all their stakeholders follow a(n) _____ initiative.
ethical CSR
Prior to the passing of the Foreign Corrupt Practices Act, unethical corporate behavior was regulated by the _____, which required full disclosure of funds that were taken out of or brought into the United States.
Bank Secrecy Act
Happy Times (HT) is an alcohol manufacturing brand that manufactures and sells several types of alcoholic beverages. HT uses social media for promoting the message of responsible drinking. It sponsors the FreeTaxi program for customers with HT membership on Christmas and New Year's Eve. It has also initiated several community welfare projects where a percentage of the profits go to the Hunger Relief Fund for Children. Which of the following aspects of Happy Times is illustrated in this scenario?
Corporate citizenship
Which of the following is true of corporate whistle-blowing?
Corporate whistle-blowing has considerable potential for financial gain in some areas.
According to Adam Moore, which of the following is true of thin consent?
It is given when the employee has no other choice.
When trademark infringement is alleged, what is the effect of actual confusion?
It is not a prerequisite for the plaintiff to recover but it is a strong indication that there is a likelihood of confusion.
Which of the following is true of the compensation committee of a company?
It oversees the salaries and bonuses of the senior executives only.
Which of the following is true of the Sarbanes-Oxley Act (SOX)?
It protects employees of companies who provide evidence of fraud.
Which of the following is true of the CRAFTED principles of governance?
It recommends creating a culture of consistency, accountability, and responsibility.
Which of the following is true of the "comply or else" approach to corporate governance?
It set stiff financial penalties for companies that refused to abide by its operational standards.
The creation of the _____ was an attempt to reestablish the perceived independence of auditing companies after the corporate accounting scandals of the early 2000s.
Public Company Accounting Oversight Board
The corporate governance committee of a company:
onitors the ethical performance of the corporation.
The board of directors of a company:
oversees the governance of the organization.
The primary reason for the enactment of the Civil False Claims Act was to:
protect the government from fraudulent defense contractors.
Title II of the Sarbanes-Oxley Act:
requires senior auditors to rotate off an account every five years, and junior auditors every seven years.
Hoffmann Enterprises (HE), a manufacturer of industrial goods, primarily focuses on meeting the demands of the market with quality products. It also undertakes environmental protection endeavors that promote the use of renewable sources of energy. HE illustrates the _____ to corporate management.
social contract approach
The _____ to corporate management refers to the perspective that a corporation has an obligation to society over and above the expectations of its shareholders.
social contract approach
The argument over privacy at work has traditionally centered on:
the amount of time that employees were on-site.
The formula used to calculate the total fine sentenced by the Federal Sentencing Guidelines for Organizations (FSGO) is:
the base fine multiplied by the culpability score.
Corporations that experiment with corporate social responsibility (CSR) initiatives run the risk of creating adverse results as:
the employees feel that they are working for an insincere, uncaring organization.
The Cadbury report addressed:
the financial aspects of corporate governance.
Which of the following is an effect of merging the roles of the chief executive officer and the chairperson of the board?
the independence of the board is compromised.
The instrumental approach to corporate social responsibility (CSR) states that:
the only obligation of a corporation is to maximize profits for its shareholders.
Which of the following checks, when in place, reduces the risk of fraud or unethical behavior in a corporation? Correct!
the participants of the governance process must be made accountable effectively.
According to Adam Moore, the distinction between the two types of consent to employee-monitoring—thin and thick—is created by _____.
the state of the job market
In September and October 2008, financial markets around the world suffered a severe crash, as:
there was aggressive lending to subprime borrowers in a deregulated environment.
According to Joseph F. Keefe, _____ is a major trend behind the corporate social responsibility phenomenon.
transparency
he fiduciary responsibility of a manager is ultimately based on _____
trust
Which of the following actions is a step toward running a company successfully?
valuating risk-versus-reward scenarios frequently, regardless of the company's size.
Which of the following companies implements Milton Friedman's view of the corporate world?
A company that makes as much profit as possible to ensure that the investments made by the company are successful.
A qui tam lawsuit is a lawsuit brought on behalf of the federal government by a whistle-blower under the _____ of 1863.
False Claims Act
_____ is the area of the Foreign Corrupt Practices Act that requires corporations to fully reveal any and all transactions conducted with foreign officials and politicians, in line with the Securities and Exchange Commission provisions.
Disclosure
The _____ refers to the legislation that was promoted as the "fix" for the extreme mismanagement of risk in the financial sector that led to a global financial crisis in 2008-2010.
Dodd-Frank Wall Street Reform and Consumer Protection Act
The _____ introduced a reward program for whistle-blowers who report securities law violations to the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC).
Dodd-Frank Wall Street Reform and Protection Act
Brendon Inc. required a permit to open its business in the country of Cadmia. Although it had met all the requirements for the permit, the officials concerned delayed providing Brendon Inc. with the permit. To expedite the process, the company made a payment to a customs official. Which of the following types of payments is this an example of?
Facilitation payment
Which of the following is a benefit of telecommuting?
Employees have the flexibility of taking care of their personal needs during work hours.
Which of the following is an argument against creating a "locked-down" work environment?
Employees who resent being constrained might leave the company.
After the initial renewal, assuming a trademark was initially registered after 1990, how often must the trademark be renewed?
Every ten years.
Which of the following statements is true of Milton Friedman's view of the corporate world?
Friedman argues that, as an employee of the corporation, a manager has an ethical obligation to fulfill his role in delivering on the expectations of his employers.
Spark Inc. (SI), a multinational corporation, had reported large losses in the previous financial year. To overcome these losses, the company planned to take the instrumental approach to corporate management. Which of the following best illustrates this approach?
SI uses its resources to enhance the productivity of employees and thus increases profits.
The _____ is a legislative response to the corporate accounting scandals of the early 2000s that cover the financial management of businesses.
Sarbanes-Oxley Act
The "Office of the Whistleblower" was created by the _____.
Securities and Exchange Commission
Which of the following is a mark used in conjunction with a service?
Service mark
"Wedding photos." Bobby took a number of wedding photos at Jill's wedding. He was paid as the photographer. On all of the photographs, he appropriately noted in the bottom right-hand corner information showing that he was claiming copyright protection. Jill came to see Bobby three years after the initial photographs were taken and requested that he grant her permission to run off as many copies as she wanted at the local photo shop from the pictures that she initially purchased. The photo shop had refused to reproduce the photographs without his permission. When he refused to give her permission to do so, Jill started a heated argument. She told Bobby that photographs are not entitled to copyright protection. She also told him that even if he was correct that there was some copyright protection, it only lasted for two years and that, in any event, damages for copyright infringement are unavailable. Which of the following is correct regarding Jill's claim regarding copyright protection on a photograph only extending for a maximum of two years?
She is incorrect, and a copyrighted work that is reproduced with the appropriate notice affixed is protected for the life of its creator plus seventy years.
Which of the following administers international treaties pertaining to the protection of intellectual property?
The World Intellectual Property Organization
Sebastian and Amy are arguing over secondary legislations that were in place prior to the passing of the Foreign Corrupt Practices Act (FCPA). Amy is of the opinion that the FCPA encompasses all secondary measures that were in use to prohibit corrupt practices. Sebastian disagrees with Amy on this point. Which of the following, if true, would strengthen Amy's argument?
The FCPA requires corporations to fully disclose all transactions conducted with foreign officials in line with the SEC provisions.
Which of the following regulated unethical corporate behavior prior to the passing of the Foreign Corrupt Practices Act?
The Securities and Exchange Commission
Which of the following is one of the key pieces of U.S. legislation designed to discourage, if not prevent, illegal conduct within businesses?
The U.S. Federal Sentencing Guidelines for Organizations
Which of the following was developed by the United Nations as an alternative for countries who wanted to participate in some form of multilateral protection of copyrights, but did not want to agree to the terms of the Berne Convention?
The Universal Copyright Convention
Which of the following is true of parties charged with vicarious liability?
They are held responsible for the actions of their subordinates.
What did the King I and King II reports have in common?
They both incorporated a code of corporate practices that looked beyond corporations.
Which of the following approaches considers a company's social, economic, and environmental impact rather than focusing solely on its financial impact?
Triple bottom line
Bob properly filed for a patent on a new machine with the U.S. Patent and Trademark Office. Alice who had been working on the same type of machine was furious when she learned about Bob's filing. She presented proof that she had actually invented the machine first but had not yet prepared the paperwork for filing at the time of Bob's filing. Assuming no wrongdoing on the part of either party and that they developed the machine independently, which of the following is the correct resolution of the dispute?
Under the America Invents Act, Bob will control rights to the patent because he was the first to file.
In what way do bribes differ from grease payments under the FCPA?
Unlike grease payments, bribes induce officials to act in violation of their lawful duty.
The _____ proposed that there should be a key restriction in the legislation to limit the ability of banks to trade on their own accounts (termed proprietary trading).
Volcker rule
The _____ of 1989 guaranteed the anonymity of federal employees, but not that of other employees.
Whistleblower Protection Act
The Cadbury report recommended:
adopting a Code of Best Practice to achieve high standards of corporate behavior.
