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Week 5 Notes

by: Natasha Harvey

Week 5 Notes BUS-L201

Natasha Harvey
GPA 3.307
The Legal Environment of Business
Victor Bongard

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The Legal Environment of Business
Victor Bongard
Class Notes
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This 20 page Class Notes was uploaded by Natasha Harvey on Friday February 13, 2015. The Class Notes belongs to BUS-L201 at Indiana University taught by Victor Bongard in Spring2015. Since its upload, it has received 75 views.


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Date Created: 02/13/15
Four Considerations that anyone should take into account when they start a business 1 Taxation are there advantagesdisadvantages relative to my choice of entity 2 Limited or Unlimited Liability for torts breaches of contract obligations to creditors etc who will be liable The business entity The owners Both 3 Financing options where will money to run and grow the business come from 4 Ease of startup operation and dissolution Another consideration is that laws regarding formation ownership operation control etc of the various business entities differ from state to state Some states provide laws that are more advantageous than others For example historically this was especially true with regard to corporations and the State of Delaware which is why more than 50 of public companies have chosen Delaware as their legal home See httbcorpdelawaredovaboutadencvshtmI In recent years many states have streamlined their corporate LLC and partnership laws to mimic Delaware s success in attracting businesses The foregoing considerations should be kept in mind when choosing from among a variety of entity types the basics of which are described further below SOLE PROPRIETORSHIPS The vast majority of small business start out as sole proprietorships These firms are owned by one person usually the individual who has daytoday responsibility for running the business Sole proprietors own all the assets of the business and the profits generated by it They also assume complete responsibility for any of its liabilities or debts In the eyes of the law and the public the owneroperator of a sole proprietorship is one in the same with the business Advantages of a Sole Proprietorship Easiest and least expensive form of ownership to organize Sole proprietors are in complete control and may make decisions as they see fit Sole proprietors receive all income generated by the business to keep or reinvest Profits from the business flowthrough directly to the owner39s personal tax return The business is easy to dissolve if desired Disadvantages of a Sole Proprietorship Sole proprietors have unlimited liability and are legally responsible for all debts against the business Their business and personal assets are at risk May be at a disadvantage in raising funds often limited to personal savings or consumer loans May have a hard time attracting highcaliber employees Less favorable deductions for employee benefits such as owner39s medical insurance premiums PARTNERSHIPS In a Partnership two or more people share ownership of a single business Like sole proprietorships the law does not treat the business and its owners separately for purposes of taxation and assigning liability The partners should begin with a legal agreement that sets forth how decisions will be made how much capital equity each will invest how much time and effort each will be expected to spend on partnership business sweat equity how profits will be shared how disputes will be resolved how future partners will be admitted to the partnership how partners can be bought out or what steps will be taken to dissolve the partnership when needed Advantages of a Partnership Partnerships are relatively easy to establish With more than one owner the ability to raise funds may be increased The profits from the business flow directly through to the partners39 personal tax returns Prospective employees may be attracted to the business if given the incentive to become a partner o The business usually will benefit from partners who have complementary Skills Disadvantages of a Partnership General partners are jointly and individually liable for the actions of the other partners Profits must be shared with others Since decisions are shared disagreements can occur Some employee benefits are not deductible from business income on tax returns The partnership may have a limited life it may end upon the withdrawal or death of a partner Types of partnerships and their treatment with regard to potential liabilities of partners include General Partnership All partners are potentially liable for debts and obligations of the partnership rather than having limited liability protection Joint Venture like a GP but organized for a specific time period or a single project Especially common where two corporations engage in a project together each being a joint venture partner Limited Liability Partnership At least one General Partner who is personally liable other partners have limited liability protection Limited Partnership Some general partners who have managerial control some limited partners who are passive investors The limited partners trade managerial control for limited liability protection the most they have at risk is the amount of their capital contribution LIMITED LIABILITY COMPANY LLC The LLC is a newer type of business structure that can be formed under the laws of all 50 states and the District of Columbia It is generally designed to provide the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership Formation is more complex and formal than that of a general partnership Owners are called members akin to shareholders of a corporation and partners of a partnership The managers of an LLC make daytoday business decisions like the officers of a corporation Overwhelmingly large businesses or those intending to become large perhaps go public still choose to organize as corporations rather than LLCs though there are a few large LLCs One emerging trend is LLC laws becoming more similar to those pertaining to corporations though corporate law is still generally viewed as somewhat more flexible and advantageous for large entities For purposes of taxation an LLC owned by two or more persons is usually treated similarly to a partnership as a passthrough entity Singlemember LLCs are usually treated as disregarded entities for tax purposes allowing the owner to be taxed personally with regard to company profits losses and expenditures In either case singlemember or two owners owners may elect to be treated as a corporation by filing the appropriate forms see httpwwwirsdovBusinessesSmallBusinessesampSelfEmplovedLLCFilingas aCorporationorPartnership SCorps Corporations electing to be taxed like partnerships as pass through entities under Subchapter S of the Internal Revenue Code On its website wwwirs gov the Internal Revenue Service IRS defines SCorps as follows S corporations are corporations that elect to pass corporate income losses deductions and credit through to their shareholders for federal tax purposes Shareholders of S corporations report the owthrough of income and losses on their personal tax returns and are assessed tax at their individual income tax rates This allows S corporations to avoid double taxation on the corporate income S corporations are responsible for tax on certain builtin gains and passive income To qualify for S corporation status the corporation must meet the following requirements 0 Be a domestic corporation 0 Have only allowable shareholders 0 including individuals certain trust and estates and 0 may not include partnerships corporations or nonresident alien shareholders 0 Have no more than 100 shareholders 0 Have one class of stock 0 Not be an ineligible corporation ie certain financial institutions insurance companies and domestic international sales corporations In order to become an S corporation the corporation must submit Form 2553 Election by a Small Business Corporation PDF signed by all the shareholders httpwwwirsqovbusinessessmallarticleOid9826300html CORPORATIONS A corporation chartered by the state in which it is headquartered is considered by law to be a unique entity separate and apart from those who own it a distinct legal person A corporation can be taxed it can be sued it can enter into contractual agreements The owners of a corporation are its shareholders The shareholders elect a board of directors to oversee the major policies and decisions A corporation s officers are those responsible for managing the corporation and making daytoday business decisions The corporation has a life of its own and does not dissolve when ownership changes Advantages of a Corporation Shareholders have limited liability for the corporation39s debts or judgments against the corporations Generally shareholders can only be held accountable for their investment in stock of the company Note however that officers and directors can be held personally liable for certain actions or failures to take action Corporations can raise additional funds through the sale of stock A corporation may deduct the cost of benefits it provides to officers and employees Can elect S corporation status if certain requirements are met This election enables company to be taxed similar to a partnership Disadvantages of a Corporation o The process of incorporation requires more time and money than other forms of organization Corporations are monitored by federal state and some local agencies and as a result may have more paperwork to comply with regulations Many state and federal resources are available online especially resources intended to inform new small business owners For example httpwwwingovmbusiness2428htm Example of Double Taxation Passthrough Entity Partnership LLC SCorp Profits totaling 60000 Distributions to each of three owners 20000 20000 20000 33 individual income tax rate 6600 each 13400 13400 13400 Corporation Subject to Double Taxation CCorp Profits totaling 60000 35 corporate tax rate 21000 39000 Distributions to each of three owners 13000 13000 13000 15 tax rate on corporate dividends 1950 each 11050 11050 11050 Property Real and Personal Intellectual Property the Basics Property The law generally recognizes two main categories of property Real Property and Personal Property Real Estate m and anything fixed immovable or permanently attached to it such as appurtenances buildings fences xtures improvements roads shrubs and trees but not growing crops sewers structures utilitv svstems and walls m to real estate normally includes title to air rights mineral rights and surface rights which can be bought leased sold or transferred together or separately Also M real property or realty httpwwwbusinessdictiongrvcomdefinitionrealestatehtmlixg2derHvRI The category of personal property can be further divided into tangible and intangible personal property Intangible personal property is property that derives its value not from the actual physical object such as a stock certificate but from what the physical object represents we will revisit tangible personal property and its relationship to contract law throughout the second unit of our course Intellectual property can be classified as another subcategory of personal property a type of intangible personal property that derives its value from the product of the human mind or intellect Like other types of intangible personal property as well as tangible personal property and real property intellectual property can be bought sold traded bequeathed in a will licensed sold to another for their personal or commercial use for a limited duration or for a limited purpose or otherwise transferred The goals of intellectual property law include 1 Balancing the rights of authors artists inventors and other creators with the rights of members of the general public who might benefit from using protected works 2 Encouraging creativity and innovation and 3 Not unduly stifling competition in the marketplace Property Real and Personal Intellectual Property the Basics One can think of intellectual property as fitting into one of four principal classifications I Patent 0 The patent laws of the United States derive from the US Constitution and federal statutes 0 A patent is a grant by the federal government that permits an inventor exclusive use and benefit from an invention for 20 years 14 years for design patents No other person can make use or sell the invention without permission during that time period 0 Mere ideas are not patentable there must be some tangible application of the idea in order for a patent application to be considered 0 Three types utility patents mechanical electrical and chemical inventions or processes machines design patents protecting distinctive appearance rather than function of an item and plant patents hybrid plants created by grafts Applications for new patents are submitted to the United States Patent and Trademark Office USPTO for consideration The approval process includes submission of detailed plans for evaluation and usually takes about two years before an application is rejected or the patent application is approved and the patent is issued 0 Requirements for an application to be approved include showing that the invention is i novel ii nonobvious and iii useful 0 Countries have varying levels of protection for patents and international treaties drafted by the World Intellectual Property Organization WIPO of the United Nations help to standardize patent protections See wwwusptogov Property Real and Personal Intellectual Property the Basics ll Trademark Common law state by state and statutory state and federal protection for any combination of words and symbols that a business uses to identify its goods or services and distinguish them from others 0 Two main types of marks Trademarks goods and servicemarks services 0 Registration with the USPTO is available for goods and services used in interstate commerce Marks used in purely intrastate commerce of goods and services may still be entitled to statelevel statutory and common law protections 0 Registration is a matter of federal statutory law and that symbol may only be used once registration is actually achieved T39V39 May by used anytime someone is claiming a trademark Common words and definitions cannot be trademarked unless they are used in a nonobvious way for example Dawn dish detergent o Trademark protection is most likely to be available for original words or names like Kodak fanciful or arbitrary marks such as Apple nc s famous El or suggestive marks that indirectly describe a product or service s function like Jiffy Lube 0 Federal trademark infringement can lead to a lawsuit where the markholder may be entitled to relief including 1 an injunction 2 destruction of the infringing products 3 up to three times actual damages and 4 the infringers monetary benefit and 5 attorney s fees 0 Protections are available in other countries through international treaties 0 So long as a mark remains in continuous use it can generally be renewed every 10 years Allowing one s mark to fall into common usage can result in loss of Federal Trademark protections Property Real and Personal Intellectual Property the Basics Ill Copyright Copyright is a form of protection provided to the authors of original works of authorship including literary dramatic musical artistic and certain other intellectual works both published and unpublished The 1976 Copyright Act generally gives the owner of copyright the exclusive right to reproduce the copyrighted work to prepare derivative works to distribute copies or phonorecords of the copyrighted work to perform the copyrighted work publicly or to display the copyrighted work publicly The copyright protects the form of expression rather than the subject matter of the writing For example a description of a machine could be copyrighted but this would only prevent others from copying the description it would not prevent others from writing a description of their own or from making and using the machine Copyrights are registered by the Copyright Office of the Library of Congress The term of copyright for a particular work depends on several factors including whether it has been published and if so the date of first publication As a general rule for works created after January 1 1978 copyright protection lasts for the life of the author plus an additional 70 years For an anonymous work a pseudonymous work or a work made for hire the copyright endures for a term of 95 years from the year of its first publication or a term of 120 years from the year of its creation whichever expires first For works first published prior to 1978 the term will vary depending on several factors Excerpted from A Copyright Refresher Jon Dudas Under Secretary of Commerce for Intellectual Property and Director of the US Patent and Trademark Office Reprinted claiming fair use from the website of the USPTO httpwwwusptogovwebofficesdcomoliacopyrightcopyrightrefresherh tm Using copyrighted material without permission constitutes infringement though an exception applies for fair use which generally speaking is brief limited use not for monetary or other personal gain Property Real and Personal Intellectual Property the Basics IV Trade Secrets Even if an idea invention or other work is not patentable or is not suitable for trademark or copyright protection if used in business it still may qualify as valuable intellectual property for which the law will afford some measure of protection under the notion that it is a trade secret What might constitute a trade secret worthy entitle to protections under the law includes a wide array of formulas processes devices and compilations of information which are generally kept secret and which might be used in business to give the owner an advantage over competitors Perhaps the most famous example of a trade secret is the zealously guarded formula for CocaCola L201 Legal Environment of Business Spring 2015 Practice Exam 1 ANSWER KEY ATTACHED SCROLL TO LAST PAGE For TrueFalse Questions Indicate whether the sentence or statement is true or false by using your No 2 pencil to color in the circle corresponding to the letter A for true and the circle corresponding with the letter B for false on your answer sheet For Multiple Choice Questions Identify the letter of the choice that best completes the statement or answers the question Use your No 2 pencil to color in the circle corresponding to the correct answer on your answer sheet Fact Pattern for Questions 1 thru 10 Marla a resident of Indiana was walking in a crosswalk in downtown Bloomington when she was struck by a Big Times Inc Big Times newspaper delivery van Marla suffered injuries that required a threeday hospital stay and caused her to miss two weeks of work Five months after being hit by the delivery van Marla moved to Louisville Kentucky to start a new job After Marla moved she decided to sue Big Times to obtain compensation for her medical bills lost earnings and continued pain and suffering ie a state law tort claim Big Times is headquartered in New York and its state of incorporation is Delaware 1 If Marla decides to file the lawsuit in a state court in Louisville KY the court in Louisville will likely a Hear the case because venue is proper in any court b Hear the case if the Louisville court has subject matter jurisdiction over the claim and in personam jurisdiction over the defendant 0 Not hear the case because the court lacks subject matter jurisdiction d Not hear the case because corporations can only be sued in federal court 2 If Marla files her lawsuit in an Indiana state court Big Times could successfully remove the case to federal court if which additional fact is present a None Big Times has the right to remove the case to federal court under the facts already given because it is a corporation b Marla complaint alleges that she is entitled to more than 75000 in compensation for her injuries 0 Marla is able to prove during the discovery process that she should be awarded more than 75 000 in compensation d Big Times does not have substantial business ties to the state of Indiana 3 True or false Marla s lawsuit would involve a federal question because she is a resident of Indiana and Big Times is from out of state 4 If Marla files her lawsuit in Bloomington and the facts are sufficient for Big Times to successfully remove the case to federal court then which federal court would likely hear the case L201 Legal Environment of Business Spring 2015 Practice Exam 1 10 ll 12 a A federal district court in the Southern District of Indiana Bloomington lies in the Southern District b A federal district court in either New York or Delaware 0 A federal district court in New York d In the Federal Court of Claims since this is a tort suit Marla would begin the lawsuit by filing a an indictment b a warrant c a complaint d a request for production of documents To avoid losing by default judgment Big Times must file an answer or other responsive pleading a Within a short time period about 30 days of the time Marla files her initial pleading b Any time before trial 0 Any time before the discovery phase of the litigation ends d Within a short time period about 30 days of the time Big Times receives service of process e Whenever it wants or not at all Big Times cannot lose by default judgment if it can prove that it s driver did nothing wrong and the accident was all Marla s fault If Marla and Big Times decide to mediate the dispute between them they may do so a Only before Marla files a lawsuit b Only after the lawsuit is filed but before trial 0 Only during the discovery phase of the lawsuit d Any time they feel that mediation might be helpful in settling their dispute During the discovery phase of the litigation if Marla s lawyer wants to learn more about the case and in particular wants to test how the Big Times delivery driver might behave as a witness the best discovery technique to employ would be a A subpoena b Interrogatories 0 Requests for admission d A deposition True or false If Marla and Big Times choose mediation then both will be bound by whatever decision the mediator makes True or false If Marla wins her lawsuit at trial and the jury awards her a sum of money as compensation the award will include a sum calculated to cover Marla s attorneys fees and court costs such fees and costs are usually awarded to successful plaintiffs in civil lawsuits True or False Companies that do business in all 50 states are subject only to federal law they are exempt from state laws by the power of Congress to regulate interstate commerce True or False Decisions by state courts are a source of law in the US legal environment L201 Legal Environment of Business Spring 2015 Practice Exam 1 13 14 15 16 17 True or False Generally a state legislature may overturn its own state s common law precedents so long as the precedents are not interpretations of what is required by the state constitution or the US Constitution True or False In civil lawsuits the focus is generally on compensating injured plaintiffs if defendants are found liable in criminal lawsuits the focus is generally on punishing defendants if they are found guilty True or False Kelly and Walter have a dispute with each other and decide to arbitrate their disagreement Generally Kelly and Walter must accept whatever decision the arbitrator makes because an arbitrator s award is binding True or False Generally mandatory arbitration provisions in contracts are invalid and unenforceable True or False Electronically stored information ESI generally does not need to be revealed to the other side in a civil lawsuit because allowing other parties access to ESI would be too intrusive and burdensome for companies Fact pattern for Questions 18 thru 20 The Federal Housing Finance Agency FHFA is an independent federal agency created by Congress under the Federal Housing Finance Regulatory Reform Act of 2008 the Act l8 19 20 21 The power of the FHFA to write regulations governing the housing finance industry derives from a An executive order b Congress and its power to regulate interstate commerce 0 Common law d State law True or false The President of the United States has the power to fire the head of the FHFA for any reason or no reason at all Regulations passed by the FHFA a Must be approved by the President b Have the force of law 0 Are not mandatory but simply suggested industry guidelines d Cannot be challenged in court On September 25 2012 Governor Jerry Brown of California appeared at a ceremony at the Mountain View CA headquarters of Google Inc where he signed into law a bill passed by the California state legislature The law allows tests of autonomous vehicles vehicles that drive themselves operating on California s roadways so long as they have a licensed human in the driver s seat to take over if needed This law can be described as L201 Legal Environment of Business Spring 2015 Practice Exam 1 22 23 24 25 26 An executive order and public law An executive order and private law A statute and public law An administrative agency action 9 99quot Part of the law described above in Question 21 includes power granted to the California Department of Motor Vehicles DMV to develop regulations governing the licensing bonding testing and operation of autonomous vehicles Of the following choices this authority of the California DMV can best be described as an example of a An improper power grab by the executive branch b Private control of a governmental agency 0 Establishing precedents d A legislative delegation of rulemaking power to an administrative agency Businesses are increasingly turning to Alternative Dispute Resolution ADR because a ADR is usually faster than litigation ADR proceedings usually are kept private ADR is usually less expensive than litigation a and c only a b and c are all correct 9900 Roberto sued his insurance company because he felt that he was wrongfully denied coverage for a businessrelated claim The insurance company believes that its decision to deny coverage was based upon a legitimate exclusion under the insurance policy so it never answers Roberto s complaint and summons even though the insurance company was properly served Roberto may a Win but only if he can get the insurance company to file its answer b Win but only after a trial 0 Lose if he does not try again to summon the insurance company to court d Win by seeking a default judgment The most time consuming portion of a civil lawsuit is usually a the time between the plaintiff s complaint and the defendant s answer b the discovery phase 0 the time between the completion of discovery and the trial when each side organizes its many surprise witnesses and facts to spring upon the other d The trial itself The federal Environmental Protection Agency EPA filed an administrative complaint against Marlin Firearms Co Marlin alleging that the company exceeded chromium emissions limits during its manufacturing activities The EPA proposed a 250000 fine Marlin objects to the proposed fine Which of the following statements is correct concerning Marlin s options a Marlin may immediately sue in federal court b Marlin may immediately sue in state court 0 Both a and b are correct d Before suing in court Marlin must first challenge the fine by using the EPA s dispute L201 Legal Environment of Business Spring 2015 Practice Exam 1 resolution process 27 Jurisdiction is 28 a the study of law b the authority of a court to decide a particular type of case 0 a federal court concept only d A concept that only applies to appeals courts Generally the first adjudication of a challenged administrative agency action is conducted by a a mediator b a state court 0 An administrative law judge who is an employee of the agency d a federal district court 29 Which of the following things distinguish an SCorp from a CCorp a An SCorp is treated by the IRS as a passthrough entity for tax purposes b An SCorp may only have a certain limited number of shareholders c An SCorp may only have one class of stock d All of the above 30 To incorporate a promoter or group of promoters must a File articles of incorporation with the IRS and Federal Trade Commission b Prove the potential success of their intended business enterprise to the Secretary of State s Office of their state of incorporation 0 File a corporate charter and pay the related fee to the Secretary of State s Office of their state of incorporation d Do all of the above 31 Jill was a partner in a retail business operated as a general partnership that was sued by a customer who fell in the store The customer claimed the business was negligent in caring for its oors Which statement best describes Jill39s potential liability a Jill has no potential liability to the customer b Jill can be held personally liable to the customer since she is a general partner 0 Jill can only be liable up to the amount of her investment in the business d Jill cannot be held liable if she can prove that an employee of the business caused the injury not Jill herself 32 Among the following choices the form of business ownership that is least easily transferred after an owner s death or incapacity is the a sole proprietorship b corporation 0 Limited liability company d Limited partnership 33 An SCorp is usually taxed similarly to L201 Legal Environment of Business Spring 2015 Practice Exam 1 9 99quot A general partnership A limited partnership A limited liability company All of the above 34 A general partnership may be formed by a Merely engaging in a business activity with one or more other persons intending to make a profit b Entering into a formal partnership agreement among the partners though a formal agreement is not required 0 Both a and b are correct d Merely engaging in a business activity by yourself intending to make a profit 35 Juliet was a limited partner in a professional football franchise operated as a limited partnership the Griffins LP the Griffins which was sued by a competing business the Hawks Inc The Hawks The Hawks alleged that the Griffins defrauded the Hawks out of their rightful franchise rights and that the Griffins had no right to operate a team Which statement best describes Juliet39s potential financial loss a b c d Juliet is a limited partner so she will not suffer any financial loss Juliet might lose an amount up to the entire value of her investment in the Griffins Juliet can be named as a defendant and held personally liable because she is a limited partner so essentially her entire fortune is at risk Juliet might lose an amount equivalent to the entire value of her investment in the Griffins but only if she is named as a defendant in the lawsuit 36 The Associated Press reports that certain health care providers have submitted to the federal government billions of dollars worth of Medicare reimbursement claims for services which were never provided If these allegations prove to be true such activities could be considered a b c d Clever but legal billing practices Criminal fraud Civil Violations only Torts only 37 Gloria an employee of AllGood Investments Corporation AllGood learned secret information about a pharmaceutical company in which AllGood owned many shares of stock The secret information which she shared with AllGood s CEO was that the pharmaceutical company s most promising drug was not going to receive FDA approval AllGood s CEO instructed Gloria to sell all of AllGood s shares in the pharmaceutical company before the FDA denial of approval became public knowledge Gloria sold the shares avoiding a huge loss for AllGood Gloria was later charged with felony insider trading A jury found her guilty and sentenced her to 10 years in prison AllGood was also charged with and found guilty of insider trading The company was fined 45 million Which of the following is an accurate statement regarding this outcome a b Since Gloria was found guilty of committing the crime the court erred in finding the company guilty The company should not have been fined since a company cannot be guilty of a crime L201 Legal Environment of Business Spring 2015 Practice Exam 1 0 Gloria shouldn t have been found guilty since she is merely an employee following the CEO s instructions d There was nothing improper about the outcome both Gloria and the company can be found guilty and punished 38 Under US law real property includes a Intellectual property IP b Any property one can physically touch ie tangible property c Buildings and xtures d All the above 39 Sources of US Copyright law include a Federal statutes and corresponding administrative regulations b State statutes and corresponding administrative regulations c Common law d a and b are both correct 6 a b and c are all correct 40 If one smartphone maker sues another claiming that the defendant company copied the distinctive appearance of the plaintiff company s most popular handset such a claim would likely be that the defendant company infringed the plaintiff company s a Utility patent which gave the plaintiff exclusive rights for 20 years b Utility patent which gave the plaintiff exclusive rights in perpetuity so long as the plaintiff continues to use the handset in commerce c Design patent which gave the plaintiff exclusive rights for 14 years d Trademark which gave the plaintiff exclusive rights for 120 years SCROLL TO NEXT PAGE FOR ANSWER KEY L201 Legal Environment of Business Spring 2015 Practice Exam 1 OOHQMAMHNE DUUUUOUUUUUUUU gt9 r tr tr tr tr tr tr tr tr tr t WWNQ P PE JNt Q NNNNN PWPt HO mwmmmmmmmwNNNNN WWNQV PE JNi QWWNQ V OgtOUWWOUgtWOUOWUWUWUOWWWWwgtgtgtgtww 4 O


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