Bus law final

common law trademark

A mark used by a party without any governmental registration

Respondeat superior

"Let the master answer" an employer is vicariously liable for the behavior of an employee working within his or her scope of employment

blue collar crimes

Crimes committed by someone of the lower class Usually associated with violent behavior, larceny, burglary, theft

Collective Mark

A mark used by members of a cooperative, association, union, or other organization to certify the region, materials, mode of manufacture, quality, or other characteristic of specific goods or services. unlike cert mark has to be issued by those in org

Equal Employment Opportunity Commission (EEOC)

a federal agency designed to regulate and enforce the provisions of Title VII

Certification Mark

A mark used by one or more persons, other than the owner, to certify the region, materials, mode of manufacture, quality, or other characteristic of specific goods or services.... A certification mark is a name, logo, or picture used to demonstrate a particular product or service complies with a certain set of standards. Unlike a trademark, a certification mark does not distinguish between the source of the product or service.

limited partner

A partner in a limited partnership given limited liability.

what is patentable

A patentable invention is one that satisfies the following conditions: the invention is new; it involves an inventive step; and it is capable of industrial application.

what is trademarkable

A phrase, word, symbol, device, or even a color are all eligible for a trademark. Anything that distinguishes the goods of your party or company from another qualifies. However, the item must be used in a commercial setting to obtain protection from the law.

1866 Civil Rights Act

A post-Civil War federal statute prohibiting race discrimination in connection with real and personal property transactions.

Patent

(n.) exclusive rights over an invention; copyright; (v.) to arrange or obtain such rights; (adj.) plain, open to view; copyrighted... last 20 years from date application is filled

Restitution

(n.) the act of restoring someone or something to the rightful owner or to a former state or position; making good on a loss or damage

Protected classes under Title VII

- Race, color, religion, sex, national origin (not sexual orientation)

pierce the corporate veil

. If owners fail to respect the legal corporation with an arm's-length transactionA transaction made by parties as if they were unrelated, in a free market system, each acting in its own best interest., then creditors can ask a court to pierce the corporate veilAn equitable doctrine allowing creditors to petition a court to not permit limited liability to a corporate shareholder.

Lorna Duties

1. Loyalty2. Obedience3. Reasonable care4. Notification5. Accounting

The Racketeer Influenced and Corrupt Organizations Act (RICO)

A federal statute that penalizes racketeering activities.is a federal statute that, if violated, can add substantial prison time to a convicted criminal's sentence. Racketeering is when someone makes dishonest business decisions

limited partnership

A form of partnership formed in compliance with state law that provides limited liability to certain limited partners who agree to refrain from management of the business.. A limited partnership has both general partners and limited partners.

Genericide

A former or claimed trademark indicating a general class of goods, not eligible for trademark protection.

Uniform Trade Secrets Act (UTSA)

A law that protects intellectual property, such as a formula, device, idea, process, pattern, or compilation of information that is not general knowledge to or accessible by other people... adopted by 44 states

Corporation

A legal entity chartered by the state, with a separate and distinct existence from its owners.

Trademark

A brand that has exclusive legal protection for both its brand name and its design... any logo, mark, sound, or other identifying characteristic that signifies the uique origin of particular goods or services... have to be renewed every 10 years

affilate

A commercial enterprise with some sort of contractual or equity relationship with another commercial enterprise.instead of a subsidiary

employment at will

A common law doctrine under which either party may terminate an employment relationship at any time for any reason, unless a contract specifies otherwise.

Limited Liability Company (LLC)

A company similar to an S corporation but without the special eligibility requirements.... A hybrid form of business that provides limited liability to owners while being treated as a partnership for tax purposes.is a good solution to this problem. LLCs are a "hybrid" form of business organization that offer the limited liability feature of corporations but the tax benefits of partnerships. Owners of LLCs are called membersOwners of limited liability companies.. Just like a sole proprietorship, it is possible to create an LLC with only one member. LLC members can be real persons or they can be other LLCs, corporations, or partnerships. Compared to limited partnerships, LLC members can participate in day-to-day management of the business. Compared to S corporations, LLC members can be other corporations or partnerships, are not restricted in number, and may be residents of other countries.

Bona Fide Occupational Qualification (BFOQ)

A legitimate reason for why an employer might discriminate against someone who belongs to a protected class.reasonably necessary for normal business operations. For example, a Jewish synagogue may restrict hiring of rabbis to Jewish people only, and a Catholic church can restrict hiring priests to Catholic men only

Business judgement rule

A rule that immunizes corporate management from liability for actions that result in corporate losses or damages if the actions are undertaken in good faith and are within both the power of the corporation and the authority of management to make.

compulsory licensing

A scheme used by countries to force pharmaceutical drug licensing in light of a medical emergency... Allows governments to force drug companies to license the formula to generic drugmakers

Bylaws

A set of governing rules adopted by a corporation or other association... Shareholder rights are generally outlined in a company's articles of incorporation or bylawsRules and regulations adopted by a corporation for its own internal goverance.

S corporation

A unique government creation that looks like a corporation but is taxed like sole proprietorships and partnerships... A corporation that, after meeting certain eligibility criteria, can elect to be treated like a partnership for tax purposes, thus avoiding paying corporate income tax.. An S corporation (the name comes from the applicable subsection of the tax law) can choose to be taxed like a partnership or sole proprietorship. In other words, it is taxed only once, at the shareholder level when a dividend is declared, and not at the corporate level. Shareholders then pay personal income tax when they receive their share of the corporate profits.

American Disabilities Act (ADA)

ADA is a U.S. law that gives civil rights to disabled persons. That includes equal opportunities in access and use of places such as transportation and buildings.... The ADA is broken down into several titles

Securities

All of the investments, including stocks, bonds, mutual funds, options, and commodities, that are traded.

articles of partnership

Also known as a partnership agreement, a voluntary contract (typically written) in which two or more persons decide to conduct business together and share profits and losses.. The articles can set forth anything the partners wish to include about how the partnership will be run. Normally,

Operating agreement

An agreement (usually written) among LLC members governing the LLC's management, rights, and duties.

Automobile exemption

An exception to the warrant requirement holding that police do not need warrants to search automobiles, just probable cause.

Business

Any commercial enterprise, usually organized for profit of its owners, and typically involving the provision of goods or services to a customer.

Agency

Area of law dealing with situations where a person is authorized to act on behalf of another person to create transactions on behalf of that person.

general partnership

Association of two or more persons in an unincorporated entity to do business and share profits and losses.. The moment they agreed to run Lily's Landscaping together, and to share in the profits and losses of the business together, the partnership was formed.

Title 7 of the Civil Rights Act of 1964

Banned discrimination in employment on the basis of race, color, religion, sex or national origin.

Apparent authority

The appearance or the assumption of authority based on the actions, words, or deeds of the principal or because of circumstances the principal created.

Public domain

Creative work that's not copyrighted and therefore free for you to use whenever you want.

Board of directors

Elected by stockholders to manage corp. The board is responsible for making major decisions that affect a corporation, such as declaring and paying a corporate dividendA portion of a corporation's net income designated by the board of directors and returned to shareholders on a per share basis. to shareholders; authorizing major new decisions such as a new plant or factory or entry into a new foreign market; appointing and removing corporate officers; determining employee compensation, especially bonus and incentive plans; and issuing new shares and corporate bondsA debt obligation issued by corporations to raise money without selling stock.

money laundering

Engaging in financial transactions to conceal the identity, source, or destination of illegally gained funds... Occurs when funds gained from illegal activities are processed through a seemingly legitimate business to "clean" the funds from association with criminal activities..

Americans with disabilities amendment act of 1978

Federal law that amends the Americans with Disabilities Act and reverses several key Supreme Court opinions interpreting the ADA., signed into law by President George W. Bush, which specifically overturned several key Supreme Court decisions to broaden the scope of the ADA.

disregarded entity

For tax purposes, an entity that does not need to file its own tax return or pay taxes; profits and losses flow through disregarded entities to the owners.

double jeopardy

Get it right the first time because you wont get a second chance. This means that the government may not prosecute someone twice for the same offense. It is prohibited by the Fifth Amendment to the U.S. Constitution.. The Fifth Amendment prohibits the government from prosecuting the same defendant for the same crime after he or she has already stood trial for it. This means that the government must do a very thorough job in collecting evidence prior to bringing a charge against a defendant, because unless the trial results in a hung jury, the prosecution will get only that one chance to prosecute the defendant.

Hostile work environment

Harassing actions that are so severe and pervasive that they alter the conditions of one's employment.. First recognized by the Supreme Court in 1986, a hostile work environment is one where hostile conditions in the workplace are severe and pervasive, unwelcome, and based on the victim's gender. Courts are careful not to impose manners on workplaces, so an offhand remark or dirty joke is unlikely to be sexual harassment

Business Necessity

If a policy has a disparate impact on members of a protected class, the employer can justify the policy if it is essential to the employer and no alternative nondiscriminatory policy exists.for the policy or practice.

double taxation

In addition to being somewhat cumbersome to manage, corporations possess one very unattractive feature for business owners: double taxation The imposition of two or more separate taxes on the same pool of money.

quid por quo

In sexual harassment law, asking for sexual favors in return for favorable job action., involves asking for sexual favors in return for job opportunities or advancement. Courts reason that if a male worker asks a female worker for sex in return for favorable treatment, it is because that worker is female, and therefore a Title VII violation has occurred. If a supervisor fires a subordinate for breaking up with him or her, then quid pro quo harassment has taken place.

Equal Pay Act of 1963

Legislation that requires employers to pay men and women equal pay for equal work

embezzlement

Occurs when someone takes property that was in his or her possession lawfully and then converts it to his or her own use.is a common crime, and it occurs when someone takes property that was in his or her possession lawfully and then converts it to his or her own use.

Independent Contractor

One who works for, and receives payment from, an employer but whose working conditions and methods are not controlled by the employer. An independent contractor is not an employee but may be an agent.

share

Piece of ownership in a company, mutual fund or other investment

Undue Hardship

Significant difficulty or expense imposed on an employer in making an accommodation for individuals with disabilities.

preemptive rights

Sometimes known as rights of first refusal, rights given to existing shareholders in a corporation to purchase any newly issued stock to maintain same proportion of their existing holdings.

first sale doctrine

The "first sale" doctrine (17 U.S.C. § 109(a)) gives the owners of copyrighted works the rights to sell, lend, or share their copies without having to obtain permission or pay fees. The copy becomes like any piece of physical property; you've purchased it, you own it.

Initial Public Offering (IPO)

The first public offering of a corporation's stock.

forgery

The fraudulent making or altering of any writing in a way that changes the legal rights and liabilities of another.

preponderance of the evidence

The standard of proof in a civil case in which a judge or jury must believe the plaintiff's story and evidence is stronger than the defendant's version.

securities fraud

a fraud that occurs when a person or company provides false information to potential investors to influence their decisions to buy or sell securities

The Foreign Corrupt Practices Act (FCPA)

a law that prohibits U.S. corporations from making illegal payments to public officials of foreign governments to obtain business rights or to enhance their business dealings in those countries

Design Patent

a patent that offers protection for the way a product looks

Utility patent

a patent that protects the way an invention is used and works

subsidary

a company controlled by another company; subordinate; secondary

disparate impact

a condition in which employment practices are seemingly neutral yet disproportionately exclude a protected group from employment opportunities

service mark

a trademark for a service... trademark for an entity providing services, as opposed to goods.. example is facebook

par value

a value assigned to a share of stock and printed on the stock certificate

principal

agent act on behalf of principal

member managed

all of the members participate in management, and decisions are made by majority vote

Implied Authority

an agent's authority to do things not specifically authorized in order to carry out express authority

insider trading

an unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends... s the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider information is illegal.

Trade secret

anything of calue a company takes reasonable steps to protect from fisclosure.. last forever... you can reverse engineer a secret but you cant disclose the secrets if youre under contract

Copyright clause

article 1 section 8 of constitution that authorizes congress to pass laws protecting intellectual property.. essentially allows govt to protect products of the mind

ultra vires

beyond the power of government to pass laws

larceny

blue and white collar crime... which is the trespassory taking of property with the intent to deprive the owner of the property. In both types of white-collar crime, the criminal is trying to take property for his or her own financial gain.

detour

constitutes a minor departure from an employee's duties but is still considered acting within the scope of employment,

Lily Ledbetter Fair Pay Act of 2009

each time a person is paid discriminatory wages, benefits or compensation, a cause of action arises and the victim has 180 days to file a complaint.

Due process

ensures fundamental fairness and decency in government actions, levels of due process vary according to the property or liberty interest at stake

Federal Sentencing Guidelines

federal standards used by judges in determining mandatory sentence terms for those convicted of federal crimes

extortion

getting money by threats

kickbacks

gifts given by suppliers to purchasing agents for the purpose of influencing their choice of suppliers

Forfeiture

government seizure of property and other assets derived from or used in criminal activity... government seizure of property and other assets derived from or used in criminal activity... which means involuntarily losing ownership of property, is also a punishment, and it is commonly used in illegal drug trafficking cases to seize property used during the commission of a crime.

patentee

holder of a patent

Not Copyrightable

ideas, facts, names and short phrases, federal government works

trade dress

is the commercial look and feel of a product or service that identifies and distinguishes the source of the product or service

ponzi scheme

its illegal.. using cash from newer investors to pay off older ones

antitrust laws

laws that encourage competition in the marketplace

stop-and-frisk search

limited search approved by the Supreme Court in Terry v. Ohio that permits police officers to pat down the clothing of people on the street if there is reasonable suspicion of dangerous criminal activity

perjury

lying under oath

Sole Proprietorship

no legal distinction between business and owner

Obstruction of Justice

occurs when a person does something that hinders the court to move forward in a case

White collar crimes

offenses committed in the business world... securities fraud, embezzlement, corporate fraud, and money laundering.

Plain View Doctrine

officers may examine and use as evidence, without a warrant, contraband or evidence that is in open view at a location where they are legally permitted to be

Lanham Act of 1946

spells out what kinds of marks (including brand names) can be protected and the exact method of protecting them. protects trademark.. federal law

Agency relationship

or an agency relationshipRequires a principal, agent, consent between parties, the principal's ability or right to control the actions of the agent, and a fiduciary relationship from the agent to the principal.to exist, there must be a principal, an agent, consent to the relationship from both the principal and the agent, the right of the principal to control the actions of the agent, and a fiduciary relationship from the agent to the principal. Additionally, an agency relationship does not need to be a paid relationship.

members

owners of limited liability companies

actus rea

person must have committed a criminal act

wire fraud

the use of radio, television, telephone, internet, or other wired forms of communication to conduct fraudulent activities with the intent to deprive an owner of property

ADEA (Age Discrimination in Employment Act)

protects individuals over 40

Probable cause

reasonable cause for issuing a search warrant or making an arrest; more than mere suspicion

Disparate Treatment

results when employees from protected groups are intentionally treated differently

fair use

right of the public, under circumstances laid out in copyright and trademark law, to use protected intellectual property without permission

Pregnancy Discrimination Act

specifically outlaws discrimination on the basis of pregnancy

express authority

the authority of an agent, stated in the document or agreement creating the agency

Articles of corporation

the document filed with a state government to establish the existence of a new corporation

Copyright

the exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material, and to authorize others to do the same.... death of author plus 70 yrs, publicstions is 70 after publication or 120 after creation

patent exhaustion doctrine

the initial authorized sale of a patented item terminates all patent rights to that item, aka if you purchase an iphone you can do what ever you want to it but you cant construct another iphone from it

manager managed

the members designate a group of persons to manage the firm

Mens rea

to be incriminated that person must have the criminal's state of mind

Officers

top management team of a corporation.. Senior management, often "C-Level," or "Chief Level," appointed by the board of directors of a corporation to execute strategy and manage day-to-day matters for the corporation.. These officers are also known as "C-level" executives and typically hold titles such as chief executive officer, chief operating officer, chief of staff, chief marketing officer, and so on. Officers are involved in everyday decision making for the company and implementing the board's strategy into action. As officers of the company, they have legal authority to sign contracts on behalf of the corporation, binding the corporation to legal obligations. Officers are employees of the company and can be removed by the board, typically without cause.

Corporate Espionage

unauthorized access of corporate information, usually to the benefit of a competitor

USPTO (United States Patent and Trademark Office)

united states patent and trademark office. Federal agency approves patent applications and officially grants trademark status to qualified marks,but only a court can finally determine the validity of a patent or trademark application Congress can do this be of article one section 8 Clause is called the copyright clause

exigent cirumstances

when there is an immediate threat to public safety or the risk that evidence will be destroyed, officers may search, arrest, or question suspects without obtaining a warrant or following other usual rules of criminal procedure

frolic

would be a major departure from the scope of employment undertaken for that employee's own benefit.

fraud

wrongful or criminal deception intended to result in financial or personal gain... 'The elements of fraud, which give rise to the tort action for deceit, are (a) misrepresentation (false representation, concealment, or nondisclosure); (b) knowledge of falsity (or "scienter"); (c) intent to defraud, i.e., to induce reliance; (d) justifiable reliance; and (e) resulting damage.