Law of Advertising and Pulic Relations
Law of Advertising and Pulic Relations JMC-40016-001
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This 6 page Study Guide was uploaded by Megan Angelo on Saturday March 12, 2016. The Study Guide belongs to JMC-40016-001 at Kent State University taught by Timothy A. Roberts (P) in Spring 2016. Since its upload, it has received 51 views. For similar materials see LAW OF ADVERTISING AND PUBLIC RELATIONS in Culture at Kent State University.
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Date Created: 03/12/16
Law Midterm Date: Thursday March 17 th 15% of your grade (100 point scale) The law and public companies: investor relations Public company: legal entity that is separate and distinct from its owners Compliance: the Securities and Exchange Commission (SEC)-regulates public companies -ensure fair and orderly market SEC- rules cover corporate and commercial speech Securities Act of 1933 – addressed New stocks and their public trading Section 5- before a security is offered – registration statement – filed with the SEC – must have financials and who are the head people Quiet Period: no press/release, ads, promotion- no news about it until it is approved by the SEC and foes on the market-Exception- tombstone ad Tombstone Ad: not creative or colorful, boring and black and white Securities Exchange Act of 1934- created SEC, extended protections to investors in Existing Securities SEC: ensures that a timely, complete, and truthful information be made available to the public about publicity traded secrets Material information: “basic facts of a company that is important to an investor’s decisions to buy, hold, sell security Ex. Financial results, planned mergers, research findings Securities Exchange Act of 1934: focus on banning false, deceptive speech Safe Harbor for forward –looking statements-project within reason Private Securities Litigation Reform Act 1995: sound and reasonable forecasts of future business and financial results-disclaimer- things that could happen – evidence- made in good faith Disclaimer: 1.) Discussing projections on financial matters 2.) Discussing plans and objectives for future operations or future economic performance Not: 1.) Going private 2.) Initial public offerings 3.) Financial statements Insider Trading: 1.) An officer/director of a corporation 2.) Anyone who owns more than 10% of the stock SEC Rule: strictly prohibits any insider form ACTING on material information received before that information is made pubic Corporate Speech Tillman Act (1907): prohibited banks and corporations from spending money on federal campaigns Smith Connelly Act (1943): prohibited unions from donating Treasury money to support federal candidates Taft- Hartley Act (1948): further restricted union involvement in federal elections- created informal PAC’s Federal Election Campaign Act (1971): regulates amount individuals and businesses could contribute to federal political candidates campaigns Buckley v. Valeo (1976): Supreme Court upheld part of FECA – CANNOT limit how much candidates could spend First National Bank of Boston v. Bellotti (1978): Massachusetts law prohibited most for-profit corporations as well as public utilities from political spending in regards to tax issues Unless the issues MATERIALLY affect the corporation –sued to overturn the law- affects the people who put money in their bank- Counter- “drown out the voice of the individual citizen” Outcome- Supreme Court ruled in favor of the bank- rationale – Corporate or individual speech doesn’t matter Austin v. Michigan Chamber of Commerce (1990): restricted general treasury funds to influence elections- PAC’s allowed- prevent corruption – labor unions and media corporations not restricted Outcome- Supreme Court- upheld the law- chamber restricted 1 and 14 st th Amendment –Rationale – no complete restriction – still use PAC –can decline to contribute Citizen United v. FEC (2010): overturned Austin – returned to the Bellotti standard Citizen United Legacy: Unlimited treasury funds to support independent political speech groups- super PAC’s Speech Now.org v. FEC (2008): limits on individual, district court rejected- No limit- Must report contributions to FEC and make public st Lobbying: 1 amendment right- petition government for a redress of grievances Federal- controlled by congress State- Ohio general assembly and Secretary of state- Ohio Direct Lobbying: influence legislative bodies through direct communication with members of the legislative body Indirect Lobbying: (grassroots lobbying) efforts to influence Congress indirectly by trying to change public opinion Lobbying Disclosure Act of 1995 (Federal): must register as a federal lobbyist if you meet certain spending levels for lobbying over a set period of time Ohio: register and report 3 x annually with the Joint Legislative Ethics Committee- specify who you lobbied, what issues and detail spending Political Action Committee: any organization in the U.S. that campaigns (gives money) for or against political candidates, ballot initiatives or legislation PAC’s started with unions -Smith Connelly Act (1943) - prohibited unions form giving treasury money FEC oversees PAC’s -all federal PAC’s must register with FEC within 10 days of formation -name -who’s in charge -what they do Limits individual from giving $5,000 annually to a federal connected or unconnected PAC Candidates- Cannot work with Super PAC’s No PAC can accept foreign donations 3/10 Copyright Law -form of protecting intellectual property Other forms include-trademarks, patents, and trade secret -Protects ORIGINAL works in fixed and tangible media of expression –facts, ideas, procedures, titles, names, slogans, logos, symbols, designs, NOT copyrightable Copyright Act of 1976- basis for current law- gives ownership of copyright to someone or an organization- reproduce, create a derivative work, distribute, perform, display, and transmit his/her work -literary works -music -dramatic works -choreographed (pantomime) -graphics -movies -sculptural works -sound recordings -architectural works -motion picture/ audio visual Not Protected: - An idea, procedure, process, discovery - works of common info Ex. Calendars, rulers - Works in “ public domain” - Expression of facts- protected - C with a circle around it - The year of creation - The name of the copyright owner -only get damages if sued Formally File-Must: - Send an application to the U.S. Copyright Office - Must have authorship - Must have an original work - In a fixed tangible medium - www.copyright.gov Benefits: -actual or statutory damages -An injunction – (considered an appropriate prior restraint) -attorney’s fees -seizure of offending work Length of Copyright Protection: Individual- life of author plus 70 years Corporate- 95 years from publication or 120 years from creation; whichever is shorter EX: 1960 – published in 1980 - 95 years is shorter Length of Protection -work for hire Under contract for an employer, copyright belongs to the employer Freelancer- Company can use it once, then ownership goes back to the creator- unless contract states different terms Infringement: violated exclusive copyright 3 types 1.) Direct Infringement: engaging in actual infringing of someone’s copyrighted work a. Most common infringement 2.) Contributory Infringement: those who directly aid in copying or otherwise enable copyright infringement to occur may be liable 3.) Vicarious Infringement: infringement occurs for profit, and are in position to stop it a. Ex. Flea market- bootleg CD’s Proof: - Ownership of copyright - Access by the alleged infringer - Substantial similarity Defenses: - Permission/consent from creator - Expired copyright (public domain) - Lack of jurisdiction (Europe) - Independent Creation- no access to work - De minimis- infringement is too trivial for the courts - Fair use (educators, media) – limited amount of work for purposed that show no intent to “steal” – most common defense 4 elements 1.) Purpose and character of the use- money v. research, reporting, comment 2.) Nature of the copyrighted work- Fiction= more protection 3.) Amount of work copied or the substantiality of the work copied 4.) Effect of use on potential market for or value of copyrighted material - Parody - Similar ideas o Creative efforts appear to be independent o Can’t stop second person to fix the idea from getting profit - Criminal v. Civil - Felony - -existence of a copyright - Acted willfully Music: must obtain permission from composers/lyricists or representative - Pay royalty - Performance License – allows use- certain amount of times or for a certain time period - Performance rights societies o ASCAP o BMI - Peer-to-Peer-Networking o Illegal to share files over a network with larger number of users, especially if this is the main intent of the network to share those types of files EX. Napster o Permission Photo, videos, music, texts, internet files Creative commons -cc with a circle around it - Attribute of creation - Noncommercial use - No derivative works
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