Question 1
LES305: Business Law and Ethics. The Employee Retirement Income Security Act establishes rules regarding each of the following except
- minimum interest rate returns on investments by pension and retirement savings plans.
- maintenance of standardized vesting rules.
- record keeping.
- how much company stock may be held in a pension plan.
Question 2
Some economists estimate that as many as _________ of American workers are licensed.
- 29 percent
- 75 percent
- 39 percent
- half
Question 3
Right-to-work laws
- make it illegal for employers to agree with unions that union membership be required for continuing employment.
- require that all persons applying for jobs be treated equally and without discrimination.
- make it illegal for an employer to terminate an employee for joining a union.
- make it illegal for employers to agree with unions that union membership be required as a condition of employment.
Question 34
Danny is the delivery driver for Ding-Dong Pizza, Incorporated While making a delivery, he spots his ex-girlfriend crossing the street, so he accelerates his truck and hits her. In this case, Danny has committed an intentional tort (battery). If, on the other hand, Danny is late for his delivery, carelessly speeds around a turn, and accidentally hits a pedestrian crossing the street, he has committed the tort of:
- abnormally dangerous activities.
- negligence.
- defamation.
- strict liability.
Question 35
A commercial airliner crashed in the middle of the Atlantic. The cause of the crash has been proved to be a wrongly installed part in one of the engines during routine maintenance. If a negligence lawsuit is brought against the airline, it will be based on:
- negligence per se.
- nonfeasance.
- misfeasance.
- res ipsa loquitur.
Question 36
Bostwick is a maintenance technician at a prominent cooking school and is in charge of repairing faulty appliances and equipment. One evening, as a result of his inspection, Bostwick discovers a gas stove with a broken valve and does a very poor job of repairing it, using techniques not considered proper or acceptable. When the morning class arrives, Kiara uses the faulty stove and is burned when it catches fire. Bostwick’s negligence is based on:
- misfeasance.
- negligence per se.
- nonfeasance.
- res ipsa loquitur.
Question 37
In a products liability case, the plaintiff may pursue legal remedies against the seller under any of the following categories except:
- strict liability.
- product disparagement.
- negligence.
- warranty.
Question 38
McDonald has invented a machine that harvests corn in the field, automatically shucks the corn from the husk, and peels the kernels from the cob, separating everything for easy disposal or further use. Assuming that all requirements are met for a patent, the length of his patent protection will be:
- 14 years from the completion of the invention.
- 14 years from the filing of the application with the U.S. Patent and Trade Office.
- 20 years from the completion of the invention.
- 20 years from the filing of the application with the U.S. Patent and Trade Office.
Question 39
To derive copyright protection, a work must:
- be fixed in a durable medium
- involve some degree of creativity
- All of the choices are correct.
- be original
Question 40
Intellectual property is an umbrella term for the legal property rights except: LES305: Business Law and Ethics
- copyrights
- trademarks
- patents
- real property.
Question 41
The color or shape of an item, if distinctive, is:
- a patent.
- a trademark.
- a copyright.
- trade dress.
Question 42
The knowledge that resides within employees is _______ knowledge.
- concerted
- outspoken
- acquired
- tacit
Question 43
A study published in the Harvard Business Review in January 2000 found that intellectual property represents approximately _______ of an average firm’s value.
- 70 percent
- 60 percent
- 40 percent
- 50 percent
Question 44
Trade secret protections are provided through:
- the Uniform Trade Secrets Act.
- the U.S. Constitution.
- federal statutes.
- state statutes and common law.
Question 45
According to one study, the value added by copyright-reliant industries to the U.S. economy accounted for nearly _______ percent of the U.S. economy.
- 12
- 50
- 15
- 25
Question 46
A ________ is a nonfunctional, distinctive word, name, shape, symbol, phrase, or combination of words and symbols that helps consumers to distinguish one product or service from another.
- trademark
- holder
- service mark
- trade dress
Question 47
A design patent will last for ________.
- 20 years from the date of the approval of the application granted by the U.S. Patent and Trademark Office.
- 14 years from the date of the approval of the application granted by the U.S. Patent and Trademark Office.
- 14 years from the date of the filing of the application with the U.S. Patent and Trademark Office.
- 20 years from the date of the filing of the application with the U.S. Patent and Trademark Office.
Question 48
A patent is a statutorily created right that allows an inventor the exclusive right to ________ their invention for a limited amount of time.
- license
- All of the choices are correct.
- sell
- make
Question 49
Which of the following describes a literal patent infringement where the infringed device does more than is described in the patent application of the protected invention?
- rule of addition
- rule of exactness
- rule of inclusion
- rule of omission. LES305: Business Law and Ethics
Question 50
Both Lloyd and Harry are claiming patent protection for the same invention that each independently created. The rights to protection will be awarded to
- the first to bring the invention to the public realm.
- the first to have his application approved.
- the first to file an application for the patent.
- the one who actually completed the invention first.
