Unit 6 Bus 280
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
What are two issues that arise in cross border litigation?
Where should the litigation occur? Which jurisdiction's law should apply?
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?
copyrights
Which of the following are divisions of the World Intellectual Property Organization? (Check all that apply.)
cultural and creative industries global issues development, innovation, and technology brands and designs
Worldwide agreement on a body of laws is known as
harmonization
plant
innovations in growing things
utility
innovative, useful invention or process
An invention that is protected by a patent is known as ________ property.
intellectual
Extraterritoriality is more of a concern for_______ (international/domestic) businesses.
international
The rules followed in ________ law help set the context for stable relations among nations.
international
The set of rules established in _______ law help set the context for stable relationships among nations.
international
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
Which of the following areas of the law are of special concern to international businesses? (Check all that apply.)
litigation in an international setting extraterritoriality performance of contracts in an international setting
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
Intellectual property is protected by ___________
patents trademarks copyrights trade names
In the United States, patents are divided into which three types?
plant design utility
A contract between businesses in two different countries falls under____________ international law, while disputes between two countries over trade subsidies falls under______ 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
A ______ is the name used by merchants and manufacturers to designate and differentiate their products, and it is protected by WIPO and TRIPS.
trade name
A big disadvantage of _________ is that it may be legally discovered by another person and patented.
trade secret
Which form of intellectual property is any information not generally known to the public and that a business wishes to hold confidential?
trade secret
The most common form of intellectual property protection pursued by international businesses is for
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
Agreements between countries can be called ___________
treaties protocols compacts conventions covenants
The World Intellectual Property Organization is a self-funding forum within the
United Nations
What are the three distinct approaches found in a legal system?
common law civil law religious law
The United Nations developed CISG as a way to solve jurisdictional problems related to
contract performance
A trade secret held by a business may include _________
formulas designs processes
In many majority ___________ (Christian/Muslim/Buddhist) nations, alcohol is strictly forbidden.
Muslim
Which statements accurately describe a country's legal system? (Check all that apply.)
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.
UN Convention against Corruption (UNCAC)
Addresses a broader range of corruption, such as general abuse of power and trading in official influence, and recovery of assets from officials accused or convicted of engaging in corruption
Transparency International's Corruption Perception Index
Assesses the likelihood that firms from industrialized nations will engage in bribery abroad
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
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. Civil wrongs are rectified by compensation. Case law develops through precedents.
Foreign investment is encouraged when a country's legal system is based on the rule of __________
Law
What three countries follow religious law?
Libya Iran Morocco
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
Which of the following statements characterize antitrust laws in the United States and the European Union? (Check all that apply.)
European Union antitrust law allows for market dominance. U.S. antitrust law focuses on the impact on the consumer. European Union antitrust law focuses on the industry's competitive structure. U.S. antitrust law adopts the per se concept.
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: Worldwide agreement on a body of laws is known as globalization.
False
U.S. accounting practice is guided by which of the following organizations? (Check all that apply.)
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
United Kingdom Bribery Act
Includes penalties for corporate failure to prevent bribery
A series of 11 internationally standardized terms that describe the conditions of sale and the responsibilities of the buyer and seller in international trade transactions are known as ___________
Incoterms
What guides the accounting principles of countries in the European Union? (Check all that apply.)
International Accounting Standards Board International Financial Reporting Standards
Who established the predefined commercial terms known as Incoterms?
International Chamber of Commerce
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 statement is true regarding the protection of trade secrets?
It is up to the company to maintain the value of its trade secrets by not allowing them to be publicly known and to ensure that they are not disclosed
United States patent law
Patent goes to the first inventor. Definition of novelty is more broad.
European Union patent law
Patent goes to the first person to register an invention. Definition of novelty is more narrow.
Which of the following are examples of local laws in other countries and their associated penalties? (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 statement accurately describes the differences between EU and US patent law?
The EU definition of novelty is much narrower than the U.S. definition.
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?
The Securities and Exchange Commission The Department of Justice
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 are less costly than initiating a patent. They do not require any registration process.
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
True or false: Under a common law system, a civil wrong is rectified by compensation.
True
Which measure taken to combat bribery addresses a broader range of corruption, such as general abuse of power and trading in official influence, as well as the recovery of assets from officials accused or convicted of engaging in corruption?
UN Convention against Corruption
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?
a treaty
The Sarbanes-Oxley Act had a direct effect on standards in the U.S. _________ industry
accounting
design
aesthetic, nonuseful creation
The U.S. government imposing taxes on a U.S. citizen living in France is an example of
an extraterritorial application of the 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?
antitrust laws
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
bribery
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
Principles of a ______ law system include the use of precedents, case law co-existing with statue laws, and the notion that the defendant is presumed innocent until proven guilty.
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
common
Which approach to law relies on decisions made by judges in previous cases along with statutes and regulations made by legislatures?
common law
Within the litigation process, pretrial activities include finding the facts that are relevant to the case. This process is called ___________
discovery
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
What form of international law governs the legal relationship between governments?
public international law
The Qur'an is an example of a document that is used as the basis for a legal system based on _________ law
religious
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
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
sweeping
The final say regarding cross border disputes lies with
the court that is being asked to hear the case
What are some purposes of a trade name? (Check all that apply.)
to distance the company from negative publicity to do business in multiple geographic areas with one legal corporation to focus the customer on a product line
What is the purpose of a quota?
to limit the amount or source of imports
Why are competition laws strictly enforced in the United States and the European Union? (Check all that apply.)
to prevent price fixing to prevent business monopolies to prevent market sharing
A legal case that is based on _________ law usually results in a settlement based on money.
tort or torts
The injuries inflicted on another person, either intentionally or negligently, are called
torts or tort