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Intellectual property law
the group of laws that regulates the ownership and use of creative works
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UNIFORM TRADE SECRECTS ACT (UTSA
Is the basis of all intellectual property
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Patent Law
- protecting an invention; grants an inventor the right to exclude others
- from making, using, or selling an invention during the term of the patent
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Trademark Law
protecting a logo for a business; a work, symbol, design, or color that a business uses to identify itself or something it sells
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Copyright Law
- protecting written music, software, movies or books; a legal device that protects original
- works of authors
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Trade Secrets
protect anything not covered under the above three laws.
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Patent
is a document that grants an inventor the right to exclude others from making, using, or selling an invention during the term of the patent.
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Public Domain
- comprises all intellectual property whose protection has expired which means now anyone can use the invention or any part of it
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Rule to Create a Patent
- •QUALIFYING
- FOR A PATENT RULES ARE:
- •1.
- The invention must not contain prior art; and not be based on anything publicly
- available before its invention
- •2. The invention must fit into one of five
- classes; a
- machine (rocket or fax), a process (chemical reaction), articles of manufacture
- (furniture), a composition (gasoline), or a new use for one of the four
- categories.
- •3. The invention must be “unobvious,”
- even to someone skilled in the field.
- •4. The invention must have utility,
- which means it must be useful, not just whimsical or silly.
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Patent Pending
is the time between the application and the acceptance or rejection.
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Patent Infringement
- occurs when someone makes and sells a product that contains all elements of a patent
- claim.
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Copyright
- is a legal device that protects original works of authors
- A copyright lasts for the life of the author plus 70 years.
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Trademark
- is a word, symbol, design, or color that a business uses to identify itself with
- something it sells.
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A Service Mark
is a work, symbol, design, or color that describes a service business
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Permits and Licenses
are legal documents giving official permission to run a business
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Contract
is a binding legal agreement between two or more persons or parties
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Contract must meet 4 conditions
- –AGREEMENT
- occurs when one party to a contract makes an offer or promises to do or refrain
- from doing something, and the other party accepts.
- –CONSIDERATION
- is what is exchanged for the promise
- –CAPACITY
- is the legal ability to enter into a binding agreement
- –LEGALITY-there cannot be provisions that are illegal or that would result in illegal
- activities.
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An Oral Contract
is an unwritten contract that does not last for more than one year.
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A Void Contract
- contract is one that never existed in the first place because the parties did not have
- the capacity to enter into the contract.
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A Valid Contract
is most common for businesses because it meets several important criteria.
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The EQUAL EMPLOYMENT OPPORTUNITY COMMISSION (EEOC)
is the government agency charged with protecting the rights of employees.
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Federal Child Labor Laws
- –Under
- 18 cannot work in hazardous jobs
- –Under
- 16 can only work a restricted number of hours
- –Under
- 14 can only work in certain jobs, like delivering newspapers or working for
- their parents
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Wrongful Termination
- is the right of an employee to sue his or her employer for damages if they feel they
- have been terminated for an unacceptable reason.
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Sexual Harassment
- is any unwelcome sexual conduct on the job that creates an intimidating, hostile,
- or offensive working environment
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Price Discrimination
is the charging of different prices for the same product or service in different markets or to different customers
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Uniform Commercial code
- is a group of laws that regulate commercial business transactions. It applies to
- sales transactions among merchants
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Warranty
- FORMATION OF CONTRACTS is covered under UCC to determine valid contracts
- •WARRANTIES are also part of UCC and help to protect buyers
- A WARRANTY OF MERCHANTABILITY is a guarantee about the quality of goods or
- services purchased that is not written down or explicitly spoken. It assures a
- new item will work for its specified purpose.
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Product Liability
covers the legal theory that manufacturers are responsible for injuries caused by their products
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Increased Cost
is part of product liability due to insurance. Manufacturers must give clear warnings of potential dangers.
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Truth in Lending
is enforced by the Federal Trade Commission (FTC) and requires those businesses who give credit to reveal all terms and conditions of their credit agreements
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Laws that regulate Trade
- Product Liability
- Increased Cost
- Truth in Lending
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Bait and Switch
involves advertising at a very low price to attract customers who are then persuaded to switch to a more expensive product
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4 Rules to false of misleading advertising
- Misleading Ads
- Sale Prices
- Price Commissions
- Bait and Switch
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Tax Laws
- •SALES TAX is a percentage of the price of an item that goes to a state or local government
- •PAYROLL TAX are certain taxes that are deducted from an employees earnings;
- •FICA, or Social Security Tax is a percentage of an employees income which must be matched by the employer. There is a ceiling on this tax.
- •INCOME TAX is also withheld; federal and state in California
- BUSINESS AND CORPORATE TAXES
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