Module 6 INTB
Which of the following are examples of local laws in other countries and their associated penalties?
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.
Which legal system is the most widespread system globally?
Civil law
What are the three distinct approaches found in a legal system?
Common law, religious law, civil law
The United Nations developed CISG as a way to solve jurisdictional problems related to _.
Contract performance
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
A trade secret held by a business may include _.
Designs, processes, formulas
T/F: Worldwide agreement on a body of laws is known as globalization
False
U.S. accounting practice is guided by which of the following organizations?
Financial Accounting Standards Board, Securities and Exchange Commission
Which act of the U.S. Congress prohibits bribery of foreign officials and sets requirements for transparency of accounting transactions?
Foreign Corrupt Practices Act
Which of the following result when a country's legal system is based on the rule of law?
Foreign investment is encouraged, investors know their interests are protected, human rights are protected
An invention that is protected by a patent is known as _
Intellectual
What guides the accounting principles of countries in the European Union?
International Accounting Standards Board, International Financial Reporting Standards
Which of the following accurately describe a country's legal system?
Its goal is to provide for the welfare of the country, it is a collection of governing principles, it is a collection of legislation and regulations
Which state in the United States does not follow the common law system?
Louisiana
A legal case that is based on tort law usually results in a settlement based on _
Money
Which of the following countries follow religious law?
Morocco, Libya, Iran
In many majority _ nations, alcohol is strictly forbidden.
Muslim
Which of the following areas of the law are of special concern to international businesses?
Performance of contracts in an international setting, extraterritoriality, litigation in an international setting
The Qur'an is an example of a document that is used as the basis for a legal system based on _ law.
Religious
Why are competition laws strictly enforced in the United States and the European Union?
To prevent business monopolies, to prevent price fixing, to prevent market sharing
Intellectual property is protected by _.
Trade names, copyrights, trademarks, patents
T/F: 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
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
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.
antitrust
The Foreign Corrupt Practices Act is relevant in an international business situation that involves _
bribery
The _ law approach to a legal system is based on a systematic collection of laws designed to cover all areas of concern
civil
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.
common
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
Which form of intellectual property protection gives authors, composers, and creators the exclusive right to publish and dispose of their work?
copyright
Within the litigation process, pretrial activities include finding the facts that are relevant to the case. This process is called _
discovery
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
Worldwide agreement on a body of laws is known as _.
harmonization
Extraterritoriality is more of a concern for _ businesses.
international
Stable relationships among nations are fostered through _ 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
what is the legal proceeding conducted to determine and enforce legal rights?
litigation
A treaty is a source of international law that is used when making agreements among _.
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
A _ is put in place by a government to limit the amount or source of imports
quota
What are some purposes of a trade name?
to distance the company from negative publicity, to focus the customer on a product line, to do business in a multiple geographic areas with one legal corporation
The injuries inflicted on another person, either intentionally or negligently, are called _.
tort
A _ _ is used to designate and differentiate a company's products. For example, Yum! Brand 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 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
Agreements between countries can be called _.
treaties, convenants, protocols, conventions, compacts
