International Management Ch 4
Which of the following accurately describes what a patent is?
A protection issued by a governmental authority to exclude anyone other than the holder from making, using, or selling an invention for a set period of time
Which of the following BEST describes a trademark?
A recognizable brand name, design, or logo that calls a specific product to a consumer's mind
_____ is the process of reaching a binding decision by a third party outside the courts.
Arbitration
The Deepwater Horizon oil spill in the Gulf of Mexico in 2010 released 130 million gallons of crude oil into the water which resulted in harm to wildlife as well as loss of human life on the oil rig. It was owned by BP, a large British oil company, which was operating various deep-sea oil rigs in the Gulf of Mexico at that time. Although, it could be perceived as an accident and tragedy, an investigation found that BP was at fault in a number of areas such as 11 counts of misconduct and neglect, which BP plead guilty. This incident caused BP to emphasize environmentally friendly corporate polices in an effort to improve the image of the company. Which of the following is the BEST summation of the judgment?
BP admitted negligent behavior caused this accident, which was illegal, and had severe consequences to the wildlife in the area as well as crew members who lost their life.
Malawi, a country in East Africa, has vast reserves of uranium. However, many international firms are skeptical of starting mining operations in the country. Which of the following techniques can Malawi use to attract foreign investment?
By making regulatory reforms
Which is BEST described as a legal system in which judges interpret law and set precedent for subsequent interpretation and usage?
Common law
In the context of protecting intellectual property, which of the following is a disadvantage of having a trade secret for a tangible product?
Competitors can purchase and reverse engineer the product.
_______ is a form of intellectual property protection granted to authors of a literary, dramatic, musical, or artistic work.
Copyright
________ is a form of intellectual property protection granted to authors of a literary, dramatic, musical, or artistic work.
Copyright
Which of the following is NOT one of the three different levels of law?
Environmental law
_____ are the moral principles of right and wrong that guide personal and organizational decision making.
Ethics
_____ are payments made to speed up the actions that government officials are already bound to perform.
Facilitation payments
In the United States, the _____ regulates all forms of online advertising, data collection, and sales, and imposes penalties for companies making false claims or violating customers rights.
Federal Trade Commission
In 1988, the _____ was expanded to cover foreign companies that operate in or have securities (stocks or bonds) listed in the United States, effectively making it applicable worldwide.
Foreign Corrupt Practices Act
The _____ is a law signed by President Jimmy Carter in 1977 that made it illegal to pay foreign government officials for their assistance in obtaining or retaining business.
Foreign Corrupt Practices Act
Which of the following is NOT a benefit of the Rule of Law?
It clearly establishes who is the one individual with the ultimate authority and discretion to set and enforce laws.
Which is the BEST description of criminal law?
Law that regulates social conduct, including personal protections, property protections, and basic human-rights protections
Which of the following would the Foreign Corrupt Practices Act (FCPA) NOT prohibit?
Payments to foreign officials to decrease the wait time for a construction permit.
Ethiopia, a country in East Africa, is suppressing dissent in the Tigray region, leading to increasing tensions with Eritrea with whom they just signed a peace agreement in 2018 to end the previous war between the two nations. Should war again be declared, which of the following laws is most likely to govern the military conflict between the two nations?
The Geneva Convention
In a survey conducted on the rule of law index by the World Justice Project, Denmark, a country in Western Europe, received a high score. Given the information, which of the following is most likely to be true of Denmark?
The rule of law in Denmark reduces transactional risks, such as fraud, negligence, and bad debts.
_____ is adjudicated by religious leaders.
Theocratic law
Freda, a researcher in the field of physics, has created a new way of operating hydraulic equipment at a minimal operational cost. She is considering acquiring a patent for her work. Her life-coach, Gandalf, suggests she should just "Keep it secret. Keep if safe." What might be a reason that he has this opinion?
To obtain a patent, she will need to disclose the full technical details of the invention to the issuing authority.
Reproducing, distributing, and/or sharing of legally protected movies, even if the perpetrator receives no financial gain, is an example of infringement on which type of intellectual property protection?
Trademark
The Nike swoosh is a well-recognized brand logo throughout the world. Several companies over the year have tried to mimic Nike's logo for their own products. If Nike brought a lawsuit against these companies, it would claim which type of intellectual property protection infringement?
Trademark infringement
The rights that cover the creative works of individuals, companies and countries are increasingly important today due to the global economic shift and advancements in technology. As companies continue to expand their markets internationally, they bring with it new technology that is often the result of a tremendous amount of time and resources dedicated to creating it. These concerns are typical of most global companies in an evolving and more connected international business environment. With which international organization can these companies seek help in obtaining legal protection for their work?
World Intellectual Property Organization (WIPO)
In June 2020, Novartis AG, which is a global pharmaceutical company based in Switzerland, agreed to pay fines of $345 million to the U.S. Department of Justice and the Securities and Exchange Commission (SEC) for their part in making illicit payments to position the company at an advantage to secure business deals dating as far back as 2007. Although this behavior occurred in jurisdictions outside of the United States, it was enforced under the Foreign Corrupt Practices Act (FCPA)
because Novartis is listed (NVS) on the New York Stock Exchange (NYSE).
Desmond has been charged with assault. He is punishable under _____.
criminal law
Mozambique, a country in Southeastern Africa, is governed by customary law. It can be said that in Mozambique, _____.
laws are derived from long-standing experience and practice, based on collective wisdom and shared philosophy, making business uncertain for foreigners
Primera Inc. is an American oil company. It uses the process of hydraulic fracturing for drilling natural gas from several thousands of feet below the surface of the Earth. Although hydraulic fracturing complies with business regulations, Primera Inc. has faced angry protests from environmental groups who claim that this process adversely affects the environment. Given this information, it can be said that the protesters consider Primera Inc.'s actions to be:
legal but unethical
The European Union (EU) ratified the Treaty of Lisbon in 2007 which acts as a form of international law called supranational law. Given this information, it can be said that these laws ____.
limits the rights of the soverign member states
Australia operates under common law. It can be said that, in Australia, judges:
rule on cases by relying on interpreting legal code and stare decisis.
Many organizations are now turning to practices that reduce waste, recycle metal, glass, plastics, and electronics, and cut greenhouse gas emissions. These practices are called _____ business practices.
sustainable
In North Korea, Kim Jong-un is considered the supreme leader. He is the ultimate authority and has discretion to set and enforce laws in North Korea. This scenario exemplifies _____.
the rule of the individual
