Bonus Chapter A

Bonus Chapter A - BONUS CHAPTER A THE NEED FOR LAWS...

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B ONUS  C HAPTER  A T HE  N EED  F OR  L AWS Judiciary-  the branch of government chosen to oversee the legal system through the court system Business law-  rules, statutes, codes, and regulations that are established to provide a legal framework  within which business may be conducted and that are enforceable by court action S TATUTORY   AND  C OMMON  L AW Statutory Law-  state and federal constitutions, legislative enactments, treaties of the federal government,  and ordinances—in short, written law Common law-  the body of law that comes from decisions handed down by judges; also referred to as  unwritten law - Often referred to as   unwritten law   because it doesn’t appear in any legislative enactment,  treaty or other such document Precedent-  decisions judges have made in earlier cases that guide the handling of new cases A DMINISTRATIVE  A GENCIES Administrative agencies-  federal or state institutions and other government organizations created by  Congress or state legislatures with delegated power to ass rules and regulations within their mandated  area of authority T ORT  L AW Tort-  wrongful act that causes injury to another person’s body, property, or reputation Intentional tort-  a willful act that results in an injury Negligence-  in tort law, behavior that causes unintentional harm or injury P RODUCT   LIABILITY Product liability-  part of tort law that holds businesses liable for harm that results from the production,  design, sale, or use of products they market
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Strict product liability-  legal responsibility for harm or injury caused by a product regardless of fault L AWS  P ROTECTING  I DEAS : P ATENTS , C OPYRIGHTS AND  T RADEMARKS Patent-  a document that gives inventors exclusive rights to their inventions for 20 years American Inventor’s Protection Act-  requires patent applications to be made public after 18 months  regardless of whether a patent has been granted Submarine patent-  when someone filed for a similar patent, the inventor surfaced to claim the patent Copyright-  a document that protects a creator’s rights to materials such as books, articles, photos and  cartoons Trademark-  legally protected name, symbol or design (or combination of these)
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This note was uploaded on 03/20/2008 for the course BINT 101 taught by Professor Lifton during the Fall '07 term at Ithaca College.

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Bonus Chapter A - BONUS CHAPTER A THE NEED FOR LAWS...

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