Entrepreneurship
Chapter 7.3
Name_________________________________________
Define:
Intellectual Property-
Patent-
Copyright-
Trademark-
Contract-
Regulations That Promote Competition
Antitrust Legislation (Summarize each)
Sherman Act-
Clayton Act-
Robinson-Patman Act-
Wheeler-Lea Act-
Government Agencies that Protect Competition
Justice Department
How does the Justice Department protect competition?
Federal Trade Commission
What does the FTC do?
Intellectual Property
Patents
How long does a patent last?
What does it restrict?
Copyrights
How long does a copyright last?
How does it protect the author’s work?
Trademark
How does it protect the company that uses it?
Laws that Protect Consumers
Licenses
Why do some businesses need licenses?
Zoning Laws
What are zoning laws?
Why are they important?
Consumer Protection Laws (Summarize each)
The Federal Food, Drug, and Cosmetic Act of 1938
The Consumer Product Safety Act of 1972
The Truth-in-Lending Act of 1968
The Fair Credit Billing Act of 1974
When to get Legal Advice
What type of issues can a lawyer help you with in your business?
Contracts
For a contract to be legally binding, what four elements must be included?