L201 Chapters 35,36,27,51
L201 Chapters 35,36,27,51 BUS-L201
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This 12 page Study Guide was uploaded by Trey Notetaker on Monday March 7, 2016. The Study Guide belongs to BUS-L201 at Indiana University taught by Engber in Summer 2015. Since its upload, it has received 30 views. For similar materials see GLOBAL BUS ANLS-INTER BUS MGMT in Business at Indiana University.
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Date Created: 03/07/16
Exam 2 Notes 2/15/16 Article Summaries: o Lawsuits toward Indianapolis towing company Over priced towing services to people who are not able to keep up payments on their new cars Exploited mechanics lien statute Would auction cars to either himself at a high discount, or friends and neighbors o PayPal Customers are having “holds” placed on their accounts for no apparent reason Customers are suing PayPal over wrongly freezing accounts Settlement of 3.2 million dollars o Fitbit malfunction “the verge” measures a person’s heart rate lawsuit saying fitbit is selling a faulty product woman’s heart rate was around 160bpm when the fitbit said it was somewhere around 80bpm The plaintiff is looking to be reimbursed for the price of the product Brought to California court o 2k tattoo copyright take-two interactive software (the company that makes 2k basketball video games) is being sued by a small tattoo sketching company over copyright laws that they are entitled to the copyright over the body art on players in the game settlement of 1.14 million was directed by take- two Case could set precedent of copyright laws Class Notes: o Business torts It is a wrongful act (business tort) to induce someone into entering or breaching a contract You can picket (off of the company’s property) but you cannot block people from entering into a business You cannot make false statements about a company You can compare your product to another company’s but everything you say must be true (must be able to back up any claims that you make about comparisons) Cannot make your product seem like it is actually someone else’s (counterfeits) “grey goods” – a licensing agreement between two companies over the making and selling of a product in different market o Intellectual Property An idea or invention Not a physical product, but may result in one Patents, copyrights, trademarks, trade secrets Enforcement of rights has to come from individual countries The U.S. has an appeals court that deals strictly with intellectual property Patents induce companies to be innovative for a period of time (typically 20 years) Most countries follow the first to file rule, not the first to invent Only federal gov’t can issue patents Is the new invention a current extension of modern technology, or is it a separate, novel idea Courts have the final say in patent law Extensions on patents are possible (drug companies use this a lot) 2 Trade secrets have no time period (ex. Formula for Coca-Cola) To keep a trade secret, you have to hold the information in confidence If your product can be reverse engineered, you will want to have a patent on it Holder of patent may receive royalty payments over any infringement sales, and also may employ a cease and desist Employers are generally entitled to patents filed by employees Feb 17 th Article Summaries o Morgan Stanley agrees to 3.2 billion settlement For selling high risk mortgages 2.6 billion dollars to federal authority, 550 million dollars to the state of New York, 22.5 million dollars to the state of Illinois Big factor in the 2008 recession o Burberry vs. JC Penny Burberry hoping to gain 2 million dollars Burberry filed a lawsuit for copyright infringement against JC Penny Class Notes o You do not have to register copyright like you have to for patents o You have to file to maintain rights over your copyright. If it is not filed you cannot enforce it (file a lawsuit against someone for copyright infringement) o Copyright is good for 70 years after the death of the creator o If it is not individual but corporate entity it is good for 95 years from use or 120 years from creation o Fair use doctrine 3 Allow the use of copyrighted material if it is used for educational purposes, writing a review, satire, and other uses where the re is no revenue gain. If there is a revenue gain then it does not fall under fair use doctrine (ex. article summaries) o Cannot renew copyright o If copyright becomes generic it’s lost no matter what you do o Trade secrets also do not have a definite life span. Must be maintained with limited access. Soundcloud- o Accusing Soundcloud for not paying proper royalties and not having licenses o Since so little royalties have been paid to labels, many major labels around the world have been making soundcloud pull music off the site. Ie: sonny and Universal o SoundCloud claiming they are protected under the Safe harbor Provision but since Soundcloud is generating revenue they are not protected Facebook Censorship o Facebook deleted a French person’s account because he uploaded a famous 19th century nude painting titled “Origin of the World” o The man was outraged and sued Facebook with demands to restore his account and requesting 20,000 euros in personal damages o Facebook has responded by stating that the case would have to be dealt in Santa Clara, California due to Facebook’s online terms and conditions o As of now the case will be taking place in France even though Facebook is contesting it Jessica Alba Dishonest labeling 4 o Honest Co. cofounded by Jessica Alba has been accused of labeling their products fraudulently o Honest Co claims their products are “natural” but they are not o They are being sued by a customer that claims their product, in fact, have many chemicals and are advertising wrong information Uber Class Action dispute o Uber is settling for 28.5 million to 25 million passengers in a settlement o The lawsuits alleged that Uber was being irresponsible by misleading consumers on the matter of rider safety o While Uber does indeed do background checks, it notably does not fingerprint applicants like other transportation services o Rides will no longer pay a “safe rides fee” but now it is a “booking fee” since they original name could easily have lead customers to believe they were paying for something they actually are not getting Class Notes 2/22/16 Sole proprietors can set up their own business o One owner, don’t file anything with government unless you adopt a name for the business then in most states you have to file an assumed name. So if someone wants to bring legal action they know who to sue Taxed as an individual No limit on liability, personal assets can be taken. You have no protection High risk Usually do not last for a long time because owners are in need of capital Partnership 5 Two or more legal entities Any form of entities can form a partnership Taxes flow through individuals taxes. Partnerships have to file tax returns to show what percentage of income is going to each partner and then those partners are individually taxed on their personal tax returns Unlimited liability. Personal assets can be taken. If one partner goes bankrupt other partner can be held fully liable Limited Partnership One general partner and then other limited partners Limited applies to liability. Limited partner is only liable to the extent of their contribution If general partner dies or is incapacitated the partnership seizes to exist In a partnership any partner can transfer their right to their profits but cannot transfer their right to run the business or right to be a partner Limited liability Partnership All partners have limited liability. Unless a partner personally acts with misconduct their personal assets cannot be taken but their contributions can be taken All of these entities are usually formed at the state level Non-for-profit- Cannot pay out owners, do not pay taxes as long as they stay within guidelines of activity Professional Corporations- Many times for doctors, lawyers, dentists etc. Individuals are personally liable for their actions, are and liable to the extent of their contribution even if it is not them personally acting with misconduct Characteristics of a partnership: Purpose is to generate profit and must have intent to have co-ownership. If all of the 6 characteristics of a partnership are met, the law will consider it a partnership even if you claim it is not Class Notes 2/24 Yogurt wars Issue of false advertising Chobani was ordered to halt advertising as ads mislead consumers to believe that yogurts of other companies are unsafe to eat AMC Theater discrimination Movie theaters have to audio devices available for the blind Charges brought to court in California Facebook gets sued over text messages Concerns a Facebook user receiving a text about a friends birthday sent to his private number, which he claims he did not permit Facebook to do Violates users rights Facebook claims that the user actually did consent to these messages Partnership Only if partnership, or partners, lead third parties to believe that other person was a partner, then the partnership can be held liable for promises made by the false partner False partner can be held liable by the third party By law if partnership dissolves and there is excess capital, the capital will be split evenly despite any difference in ownership of company Agency All employees are agents Independent contractors are considered agents 7 If you allow someone to act in your behalf, you could have employed an agent No writing needed Natural extensions of express authority are called implied authority You can create authority by words of actions (or lack thereof) Duty of Loyalty to not have a conflict of interest, unless both principles agree Duty to obey all instructions that are legal Obligated to communicate all relevant info to the principle Indemnify- compensate them (the agent) for their losses 2/29 Class Notes Crimes, iPhones Everywhere Debates whether or not Apple should unlock the iPhone or Syed Rizwan Farook, guilty of planning a mass shooting with his wife in California Apple believes that doing this would be like opening a Pandora’s Box- “Master key” FBI says this is crucial to national security, Apple believes it is dangerous and a major violation of privacy District court has ruled on the side of national security in regards to privacy rights Johnson and Johnson Being sued by the family of Jacqueline Fox; saying she died of ovarian cancer due to the continued use of baby powder manufactured by Johnson & Johnson The son of Jacqueline Fox was awarded $72 million in damages Court ruled in favor of the Fox Family Must show that some harm came from the actual product, sufficient evidence necessary 8 Dunkin donuts Overcharged customers by $14 million in three years, sales taxes that were undue Complaints repeatedly made by customers Items such as unsweetened bottled water and pre- packaged coffee beans were taxed when they were not taxable Colorado Sales Tax to online shoppers Amazon Tax Law Lower court ruled that Colorado should block the “Amazon Tax” law In 2012, the state lost roughly $170 million in revenue due to the fact that they did not charge ales tax to online shoppers All states in the Denver Circuit court are now abiding by the “Amazon tax” law and Amazon has begun to charge sales tax The law does not require you to maintain a relationship or stay in a relationship with a party You can terminate it at anytime, and if you terminate it wrong you can be held liable for damages Damages can be specified Some agency relationships are terminated automatically by death of either party, bankruptcy usually terminates it as well and it is no longer legal or it becomes impossible to perform When terminating the relationship in the agency, you must notify third party with an actual written note Liability of third parties Contract- liable wherever the agent has authority Tort- making someone go against their own will, inducing a breach of contract Principals can also be liable for actions for sub-agents 9 o Law firms delegates action to one of their employees who acts as a sub-agent o If sub-agent violated their authority, you can hold them accountable in the same way an agent would be held accountable (expressed, implied, apparent) If you do not disclose to third party that you are acting as an agent, you can also be liable If you are going to act as an unidentified agent, you want to have an indemnification clause To prove liability, and that you are an agent, while signing a contract/document, you must include your name, and principal o Ex: Riley O’Gara, President, JR Construction Class Notes 3/2 Employment Law o Unions were initially illegal and if one was formed they could be penalized; there was no protection o Many laws on employment came about in the 1930s o Workers compensation If a worker was injured on the job, the worker had to prove that the employer committed a tortious act (was negligent) Any worker injured on the job is entitled to compensation without having to prove the employer was negligent Compensation determined by state level If someone works with machinery and gets hurt, you can get workers comp from the company but also sue the company that made the machine and prove that it is defected o OSHA- establishes standards for employment environment o Fair Labor Standards Act Minimum wage 10 Amount of hours you can work for hourly employees, and then entitled to overtime pay Child labor Social Security- Benefits after you reach a certain age Requirement Insurance- Post termination, you are entitled to a certain amount of benefits for a certain amount of time o ERISA- does not require a business to have a pension plan, but if a business does have a pension plan it sets a standard; fund must be managed independently o Family and medical leave Act- up to 12 weeks due to birth of a child, illness of a family member, military duty, etc. Does not require employer to pay you o USERRA- requires military members to be reinstated in position if they leave for military duties o Equal pay act- if a job requires same skill level and work in the same environment, pay should be the same besides in merit level and executive status o Title 7- prohibits discrimination on race, gender, religion, natural origin, does not protect sexual orientation o Section 1981 of the civil act of 1966- prevents racial discrimination Anyone over the age of 40 and older are protected under the age of discrimination act o ADA- American with disability act Prevents and requires to reasonably accommodate people with disabilities and cannot be liable for it o Employee at will- can leave at any time and can be terminated at any time Exceptions if you are a whistleblower or a complaint under something like title 7. 11 Without a contract of a certain time period, you have no job security Many jobs are at will without cause o Good faith and good dealing Treating you fair. Some states usually abide by this o Protection is greater with a public company than a private company 12
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