module 6 ls

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

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

The World Intellectual Property Organization is a self-funding forum within the ______.

United Nations

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

copyrights

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

religious

Which of the following are principles of common law systems? (Check all that apply.)

- Case law co-exists with statute law. - The defendant is presumed innocent until proven guilty. - Case law develops through precedents. - Civil wrongs are rectified by compensation.

Which of the following are characteristic of product liability cases in the United States? (Check all that apply.)

- In the United States, juries can award actual damages to the plaintiffs. - In the United States, juries can award punitive damages. - In the United States, product liability cases are heard by juries.

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

- International Accounting Standards Board - International Financial Reporting Standards

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

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

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

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

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

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

Which of the following describe Napoleonic law? (Check all that apply.)

- It was drafted in post-revolutionary France in 1804. - It incorporated the values of liberty and equality. - It has influenced the approach to law of Spain and Italy.

What two statements accurately characterize civil law?

- Judges often actively question the prosecution and defense. - Civil law tends to be less adversarial than common law.

Which of the following countries follow religious law? (Check all that apply.)

- Libya - Iran - Morocco

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

- Securities and Exchange Commission - Financial Accounting Standards Board

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

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

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

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

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

- civil law - religious law - common law

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

- copyrights - trade names - patents - trademarks

Agreements between countries can be called Blank______. (Check all that apply.)

- covenants - conventions - treaties - compacts - protocols

Which of the following are divisions of the World Intellectual Property Organization? (Check all that apply.)

- cultural and creative industries - development, innovation, and technology - brands and designs - global issues

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

- designs - formulas - processes

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

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

Which of the following areas have been affected by the extraterritorial application of laws by the United States? (Check all that apply.)

- human rights law - employment law - antitrust law - environmental law

What are two examples of customary international law?

- prohibition against genocide - diplomatic immunity

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

- 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

Why are competition laws strictly enforced in the United States and the European Union? (Check all that apply.)

- to prevent market sharing - to prevent business monopolies - to prevent price fixing

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

- utility - plant - design

Which clause in a contract specifies the location where the dispute will be settled?

Choice-of-forum

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?

Convention on the International Sale of Goods

The ___________________ (European Union/United States) has a much narrower definition of novelty with regard to patents.

European Union

Match the patent law requirements with the appropriate governmental body.

European Union - Patent goes to the first person to register an invention United States - Patent goes to the first inventor

The World Trade Organization (WTO) has 174 members.

False

True or false: The Madrid Agreement of 1891 standardized trademark protection, so it is no longer necessary for a company to seek trademark protection in each country it wishes to operate.

False

True or false: The Sarbanes-Oxley Act has been primarily criticized for its negative affects on the market and potential investors.

False

True or false: The United Nations' International Court of Justice has the power to enforce contracts between parties from different countries.

False

True or false: Under a common law system, a crime (such as a burglary) would be rectified by providing financial compensation to the victim.

False

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

False

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

Foreign Corrupt Practices Act

The _____________ (Napoleonic/German) civil law tradition is based on the application of a general set of laws to individual cases.

German

According to the World Bank summary of governance indicators, which of the following countries rates highest in rule of law, with a score of 94 out of 100?

Hong Kong

Predefined commercial terms established by the International Chamber of Commerce are known as _______________.

Incoterms

Who established the predefined commercial terms known as Incoterms?

International Chamber of Commerce

It is more common in ___________ (US/Japan) for antitrust action to be brought only if the FTC (Fair Trade Commission) has investigated the case first.

Japan

How should the US react to the loss of manufacturing jobs?

Let the market rule.

Which agreement covers most of the world's trademark protection?

Madrid Agreement of 1891

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

Muslim

According to the World Bank's "Doing Business" survey, which Asian city ranks first for investor protection?

Singapore

The Special Drawing Rights (SDR's) value is linked to which of the following five international basket of currencies?

The euro, Japanese yen, pound sterling, Chinese renminbi, and U.S. dollar.

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.

True

Which of the following is an example of a worldwide court?

U.N. International Court of Justice

Mexico's main USMCA concerns are related to:

US migration policies and high corn subsidies for US farmers

Japanese antitrust legislation got its start when the _______________ ___________ (European Union/United States) introduced it during its occupation of Japan after World War II.

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.

United States

The Sarbanes-Oxley Act had a direct effect on standards in the U.S. _____ industry.

accounting

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 Blank______ law.

antitrust

Instead of taking their dispute to court, two companies agree that bringing in a neutral third party to resolve the issue will be less costly and faster. These two companies have agreed to use _________.

arbitration

International businesspeople often specify in their contracts that disputes will be resolved by _____________ because it can be quicker, less expensive, and more binding than litigation.

arbitration

The Foreign Corrupt Practices Act is relevant in an international business situation that involves ___________ (liability/bribery).

bribery

Court proceedings are generally less adversarial in _________ (civil/common) law cases.

civil

Court proceedings are generally less adversarial in __________ (civil/common) law cases.

civil

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

civil

Which legal system is the most widespread system globally?

civil law

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 _____________ (civil/common) law.

common

Which approach to law relies on decisions made by judges in previous cases along with statutes and regulations made by legislatures?

common law

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

contract performance

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.

copyright

Customary international law is derived from Blank______.

customs that have been used for centuries

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

discovery

As a result of what is viewed as hostile dolphin/tuna harvesting practices, the United States has banned the import of tuna from certain countries. This is an example of the ______ application of laws.

extraterritorial

The U.S. government imposing taxes on a U.S. citizen living in France is an example of the __________ application of laws.

extraterritorial

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

extraterritoriality

If the United States formed a grand jury to indict foreign-owned manufacturers because they dumped production waste without getting approval from a U.S. commission, then the United States would be trying to enforce its antitrust laws ______.

extraterritorially

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

harmonization

An invention that is protected by a patent is known as __________ property.

intellectual

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

international

Stable relationships among nations are fostered through ________ (common/international) law.

international

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

international

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

law

When Kenneth's U.S.-based company was going through a dispute with an affiliate in Germany, the case was tried on German law, as the two parties had agreed to in their original contract. This example demonstrates the choice-of-____________ (law/forum) provision.

law

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.

liability

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

litigation

A legal case that is based on tort law usually results in a settlement based on _________________ (money/a prison sentence).

money

A treaty is a source of international law that is used when making agreements among _________ (nations/businesses).

nations

A(n) __________ grants the inventor of a product the exclusive right to manufacture and sell that product.

patent

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

patent

The Japanese law on product liability requires that the ____________ (plaintiff/defendant) prove design or manufacturing negligence.

plaintiff

A contract between businesses in two different countries falls under __________ (private/public) international law, while disputes between two countries over trade subsidies falls under __________ (private/public) international law.

private; public

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 ______.

product liability

What form of international law governs the legal relationship between governments?

public international law

A(n) ____________ (quota/embargo) is put in place by a government to limit the amount or source of imports.

quota

Under the standard of ____________ liability, the manufacturer or designer is liable for damages caused by a product without the plaintiff needing to prove negligence by the manufacturer of the product.

strict

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

strict liability

A _____________ ______________ is used to designate and differentiate a company's products. For example, Yum! Brands encompasses Taco Bell and Pizza Hut.

trade name

A(n) _________ _________ includes formulas, processes, patterns, or designs that a business wants to keep confidential.

trade secret

A(n) ____________ ____________ includes formulas, processes, patterns, or designs that a business wants to keep confidential.

trade secret

What is the most common form of intellectual property protection sought by international businesses?

trade secrets

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 ______.

trademark

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

trademark

Match the three types of U.S. patents with their descriptions.

utility - innovative, useful invention or process design - aesthetic, nonuseful creation plant - innovations in growing things