Mod 6 SmartBook

trade secret

A big disadvantage of ______ is that it may be legally discovered by another person and patented.

antitrust

If there was only one automobile manufacturer in the United States and it was impossible for another company to enter the industry, the government or the company trying to enter the market might try to enforce a competition or ______ law.

Muslim

In many majority ___________ (Christian/Muslim/Buddhist) nations, alcohol is strictly forbidden.

liability

Product ____________________ laws hold a company and its officers and directors liable and possibly subject to fines or imprisonment when its product causes injury, damage, or death.

international

The rules followed in ______ law help set the context for stable relations among nations.

antitrust laws

What type of laws are intended to prevent inappropriately large concentrations of economic power and its abuse through price fixing, market sharing, and monopolies?

sweeping

When a company is reported to have engaged in corruption, the Department of Justice and the Securities and Exchange Commission will look closely at it and at other companies in the industry and related industries, and the travel and expense claims of their agents. This process is called

extraterritoriality

When a country attempts to enforce its domestic laws in a foreign country, it is practicing __________.

copyright

When musicians legally challenged the music-sharing site Napster, the basis for the artists' argument was their ______ in the songs they had written and recorded.

Established precedents

A judge presiding over a case applies common law. This means the judge will rely on _________________.

patents trademarks trade names copyrights

Intellectual property is protected by ______. (Check all that apply.)

Financial Accounting Standards Board Securities and Exchange Commission

U.S. accounting practice is guided by which of the following organizations? (Check all that apply.)

tort

A legal case that is based on ______________ law usually results in a settlement based on money.

product liability

A manufacturer of coffee makes recalled all of its products after learning that nearly 50 people had been injured after the glass carafes shattered when hot coffee was allowed to sit in it. These people planned to bring a lawsuit against the manufacturer. That lawsuit would be based on ____________

trademark

A shape, color, design, phrase, abbreviation, or sound that defines a company or its products and is reserved for the company's sole use is known as a _____________

Secret

A trade ___________includes formulas, processes, patterns, or designs that a business wants to keep confidential.

formulas processes designs

A trade secret held by a business may include ______. (Check all that apply.)

international

A treaty is a source of ______________ law that is used when making agreements among nations.

intellectual

An invention that is protected by a patent is known as ________________ property

Definition of novelty is more narrow. Patent goes to the first person to register an invention.

European Union patent law

international

Extraterritoriality is more of a concern for _______________ (international/domestic) businesses.

law

Foreign investment is encouraged when a country's legal system is based on the rule of ____________.

plant utility design

In the United States, patents are divided into which three types?

United States

Japanese antitrust legislation got its start when the ______ introduced it during its occupation of Japan after World War II.

design

Match the three types of U.S. patents with their descriptions. aesthetic, nonuseful creation

plant

Match the three types of U.S. patents with their descriptions. innovations in growing things

Utility

Match the three types of U.S. patents with their descriptions. innovative, useful invention or process

bribery

The Foreign Corrupt Practices Act is relevant in an international business situation that involves ____________

trademark

The Nike swoosh and the Starbucks mermaid are examples of a Blank______.

religious

The Qur'an is an example of a document that is used as the basis for a legal system based on __________ law.

an extraterritorial application of the laws

The U.S. government imposing taxes on a U.S. citizen living in France is an example of ______.

Contract Performance

The United Nations developed CISG as a way to solve jurisdictional problems related to ______.

the court that is being asked to hear the case

The final say regarding cross border disputes lies with ______.

torts

The injuries inflicted on another person, either intentionally or negligently, are called ______________

common

The judge in a case told the people in the courtroom that based on the decision made in a similar case three years ago, the defendant was innocent and free to go. The judge's decision was based on _____________ law.

True

True or false: A trade obstacle, such as a tariff, may provide revenue for the issuing government, but it can also be a barrier to certain imports.

False

True or false: Worldwide agreement on a body of laws is known as globalization.

Patent goes to the first inventor. Definition of novelty is more broad.

United States patent law

to do business in multiple geographic areas with one legal corporation to distance the company from negative publicity to focus the customer on a product line

What are some purposes of a trade name? (Check all that apply.)

They are less costly than initiating a patent. They do not require the use of a lawyer for the administrative process. They do not require any registration process.

What are the advantages of trade secrets? (Check all that apply.)

common law civil law religious law

What are the three distinct approaches found in a legal system?

International Accounting Standards Board International Financial Reporting Standards

What guides the accounting principles of countries in the European Union? (Check all that apply.)

litigation

What is the legal proceeding conducted to determine and enforce legal rights?

to limit the amount or source of imports

What is the purpose of a quota?

Convention on the International Sale of Goods

What set of uniform rules established by the United Nations governs the formation of international sales contracts and explains the rights and obligations of the buyer and the seller?

strict liability

What standard does not require a plaintiff to prove negligence in the product's design or manufacture?

Libya Iran Morocco

What three countries follow religious law?

The Securities and Exchange Commission The Department of Justice

What two U.S. agencies engage in a sweeping process when a company is reported to have engaged in corruption to see if the problem is occurring in other companies in that industry or related industries?

United States

When comparing the United States views on antitrust laws to the European Union's, the ______ tends to look at the consumer first instead of focusing on the rivals' objections.

Foreign Corrupt Practices Act

Which act of the U.S. Congress prohibits bribery of foreign officials and sets requirements for transparency of accounting transactions?

copyrights

Which form of intellectual property protection gives authors, composers, and creators the exclusive right to publish and dispose of their work?

patent

Which form of intellectual property protection grants inventors the exclusive right to exploit, use, and sell their invention?

Civil Law

Which legal system is the most widespread system globally?

a treaty

Which most important source of international law is an agreement between countries often reached as a result of the efforts of international organizations such as the United Nations and the World Trade Organization?

It is responsible for enforcing antitrust laws. It operates separately from the Japanese court system. It targets small, foreign, or weak industries.

Which of the following are aspects of the Japanese Fair Trade Commission? (Check all that apply.)

Saudi Arabia enforces sanctions against wearing revealing clothing. A British subject with a history of serious mental illness was executed in China for carrying heroin. A foreigner in Japan was arrested for taking out his garbage without having his alien registration card.

Which of the following are examples of local laws in other countries and their associated penalties? (Check all that apply.)

performance of contracts in an international setting litigation in an international setting extraterritoriality

Which of the following areas of the law are of special concern to international businesses? (Check all that apply.)

Human rights tend to be protected. Investors know their interests are protected. Foreign investment is encouraged.

Which of the following result when a country's legal system is based on the rule of law? (Check all that apply.)

U.S. antitrust law adopts the per se concept. European Union antitrust law allows for market dominance. European Union antitrust law focuses on the industry's competitive structure. U.S. antitrust law focuses on the impact on the consumer.

Which of the following statements characterize antitrust laws in the United States and the European Union? (Check all that apply.)

The EU definition of novelty is much narrower than the U.S. definition.

Which statement accurately describes the differences between EU and US patent law?

It is a collection of legislation and regulations. It is a collection of governing principles. Its goal is to provide for the welfare of the country.

Which statements accurately describe a country's legal system? (Check all that apply.)

international

Which type of law refers to the set of rules that nations have agreed to follow?

Discovery

Within the litigation process, pretrial activities include finding the facts that are relevant to the case. This process is called ______________

harmonization

Worldwide agreement on a body of laws is known as ______.

trade name

______ is the name used by merchants and manufacturers to designate and differentiate their products, and it is protected by WIPO and TRIPS.

civil

______ law approach to a legal system is based on a systematic collection of laws designed to cover all areas of concern.

patent

_____________ grants the inventor of a product the exclusive right to manufacture and sell that product.