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ACCT352final - Nari-2e Class""“ Date “ID A...

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Unformatted text preview: Nari-2e: , Class: " "“ - Date: “ID: A Exam #3: Business Organizations & Intellectual Property Multiple Choice (2 points) [dentifv the letter of the choice that hes: completes the statement or answers the question. i L Global Schloclc, inc. manufactures cheap plastic toys which include an internal gear mechanism which is also made by Global Schlock.. The design of the gait mechanisn is patented by Better Technology Companyif Global Schlock's manufacrure of the gear mechanism is without Better Technology’s pennissiOn Global‘s use is patent infringement a. only if consumers are confused. ' ,. b. only if Global Schlock and Better Technolog' are competitors. c, only if consumers are confused and the companies are competitors. rid? none of the above. _}_;)_._ 2. . "Sheila writes lyrics and comm rcially records a new song using a tune composed’ 0), "tony, without Tonv's permission This is a. patent infiingement. “lb copyright infringement. c. trademark infringement. d. none of the above. L 3. in 2005. Homer writes A Howl-"v ofthe Simpson: in the L 3., the first genealogicalsmdy of a cartoon family. Homer sells it over the internet. but does not register the work with the U.S. Copyright Office. Under federal copyright law, Homer‘s work is automatically protected. protected, if he registers the work within six months. c. protected, if he registers the work within one year. :1. none of the above. 4. Alpha Company hacks into Omega Corporation’s computers and accesses confidential business data. There is no contract between Alpha and Omega regarding the data. This is a a risk of doing business. ,b‘.” patent infi'ingement. 3:3, theft of trade secrets. fl? trademark infringement. fa. a b .L la. 3 Adam is the owner of Adam’s Apples. a sole pmprietorslnp. He wishes to increase his business capital but still .2“ maintain complete control. This objective can best be accomplished by a. issuing stock. ,JE) borrowing funds. , c. bringing in partners. d. selling the business 5t. 6. [Ben enters into a general partnership with Alan and iennifer Ben 15 now ME) personally liable torali the debts and obligations of the partnership b. liable for partnership debts and obligations onlg up to the amount of his mpital contribution c. not required to contribute any personal money to satisfy partnership debts and obligations.- d. none of the above.‘ . at? . \ /L/E t . 1 L; I“ f O f’} 4 L/u l/ \ o t/ x ”‘3 ”’1 (3‘s 2* K) \N Ive ~. \ I“ (:33 a l V \/ ID: .32 r3 7 Catln- is consideri“: creating a eogoragion for he: ;.: :._: ’ . 3222. in order to do so the state will require a... to {Ede Wfii‘a a Ste Freezes: U 21. Articles or {emficate ofL unite d Liabilio; $45. Articies or Ce ificate of Incorporation. . , .. . . 3 c. Articles or {let ....eate of Organization. {1. none of the ace: e 11 H“ f»; 8. interstate Tmcécing. inc. is a private corporation. f-:.~; , 33,;— :3r interstate. is in an accident in New Jersey with 022 en. a citizen offse‘o York. Owen files a loose? ' " "“state in a federal district court. For purposes of fees: '~. court jarisééerion, the citizenship of interstate 1’? 11:. -«L the same as: a. interstate Paintings shareholders. ' ‘0. Jack. .4352 the stat re in . which Interstate 15 incorporate". d. none of are above. _%‘_:___ £3 Jolie is considering various forms of business erg ' her construction business. For proposes of owning property and being a party to litigation. forms first. 3 -- rites separate from their owners include a. corporations and partnerships. to. limited liabiiity companies and proprietor: ‘ - .4232 corporations and iirnited liabiiity companies none of the above. 1’3» 9‘3; 1C}. Rupert is considering different forms of business .-,; 3’" advantage of a solelyewued limited liabfli @ it is tamed like an individual. ' e— b. it is taxed hits a corporation. 0. it is taxed like a foundation. ti. , none of the above. Q ~ I l. Alice. Bob, and Carol want to term a permeate; f? :zfcn2ge two restaurants: Alice’s Restaurant and Boots Brewpub. The partnership is created when ' a a certificate of partnership is filed with the $2.323: ’{E a partnership agreement is execnted. c. the partners make their capital contributions. d. none of the above. 1* r; Eor his merchandise wholesale business. One tax C7?» ‘ llj American Goods. Inc“ is a typcial Delaware corporation. Responsibility for the long~term ”big picture" management of American Goods is carried out 133.: - wet. the board of directors. b. the corporate officers and managers. c. the owners of the corporation. d. the shareholders. (if: :3; teen and Nathan want to incorporate to market if???) products. The first step in the incorporation procedure is to a. file the articles of incorporation. b. hold the first director’s meeting. C. obtain a corporate charter. a :{3 select a state in which to incorporate. £3; £4; Snow Owl Sales.'lnc. files its Certificate of lncorportion Lilith the Delaware Division of Corporations. Least likely to r” appear in the Certificate is‘ a. the purpose of Snow Owl Sales. tee. a) (It). the exact date of the annual meeting of the shareholders of Snow Owl Sates- inc. c. the name of the registered agent for Snow Owl Sales. Inc. - '\\ d. the value of the shares of stock of Snow Owl Sales. Inc. \ 3 [\J ' " T "'.llCh is incorporated in Selaware. As the Register-:1 £4 15. Hannibal is the Pie :ereci Agent for Questionable P‘:;:;,~.;, W . ' Agent. Hannibal a, agreed to l: stock in Questionable Practices b _ . _ '0. applied tc Eelsivare to obtain the corporate cha stionable Practices Inc .6 receives legal i-ccuments and service of process can er Questionable Practices. :1; d. took the e; 3111121131 steps in organizing Qua-1:51;: 2 Frances, Inc. Ci e” ' 'r set: :3. Electronics is like most corporations in that its \ ~_ l6. U S Electrcrucs {3e cmpany Inc manufactures te c. :1-.. _ emcers are it ed 313' the company s ,ocEL. board :1 «chrectors. b. incorporaters c. shareholders d. none or the above. (:31; l7. Max purchasesi l 000 shares of common stock in V: ' roponionate onnership interest with regard to ccr; ---,:. fig; control. '0. earnings. c. net assets. d. all of the above. A 18. Slick Sheila is a director of National Foods Car" company hasdeveloped a new fat-free food at shares of National stock. One week later. the :2 and Shelia sells her shares for a profit. Sheila 111i £3 a reasonable time after the product n-asa a were: in the public to buy the stock. L‘b/ a reasonable time after the purchase of :3 self the stock. has; thirty days after she learned of the predate. 2: Tile stock. d. thirty days after the purchase of the stock in 1/4.. 19. Nick. an engineer for Omega Company learnsti1ner'a has det- 'eloped a computer chip that will triple the speed cf any compute r Nick buys 1_ 000 shares of Omega steel: and talks about his job and the chip to Sue. his "significant other“. Sue then buys 500 shares. After the new c312 is announced publ1cl3 the price of Omega stock increases Niel: and Sue both sell their shares for a substantial profit. Under the SEC Rules. liability may be imposed on e 7:: C ompany. As a shareholder, Max still have a :ecause of her position in the company, she learns that the Le: potential As a result Sheila buys an additional 10 05?"? lounced to the public the price of the stock Sig/rockets gable under 5). 17C Rule 10b— —5 if she had waited a. Nick onlv \ia. Sue only. . ' »-—~\-- . @ \lick and Sue , ‘dg none of the above. . h I) A 20. B}. is V'ice‘president of Hawkeye Products. lnc. when he buys LOOO shares of Hawkeye stock. One week later, Haw e - Products. inc. announces that it Will merge with Hot-Lips. inc. The next day. the price of Hawkeye stock increases a”; B1] .sells his shares fora handsome profit. Under Section 16(1’1/ of the Securities Exchange Act of 1934, 13.]; Would not be liable if he hadwaited <31“ a reasonable time after the merger was made public to but the stock. b\ a reasonable time after the purchase of the stock to sell it. six months after the merger was announced to buy the stock. (CD six months after the purchase of the stock to sell it. A1113 wants to go into the business of construction contracting Among the reasons she should not setup her business as a sole proprietorship would be an»? unlimited flexibility since she is sole owner ® unlimited liability [6. single taxation )1: having a board‘of directors to whom she lllLlSI answer. C 21. (a) l t» 77 EU Ix) ‘JI ‘ ‘ r » on the formation of the ( e. r 1 Ce. shareholders ‘23:) business as. uhh. you know, partners. .3: __._ ”Biggie John" and ”Louie the Gimp" agree over the i ‘ that the: have nor on tiheir partnership agreement .r: a. t . haxe no enec: die Statute of Frauds. partnership r err em doing business as b. prevent We :1 {i :::e of the abox e. partners. . Hughie acts as the incorporator ofHughie, Den-e} an: L::-:-. inc 1 he directors will be elected by a majority vote :: Hughie. Dewey and Louie’s ’ C. £333-; a. board of directors (3. Escorporators "trident hangout that is going out of business. Since Err-:1; Frank is the .ra :i ti is going to be out of a job. he copies six of twelve chant _ f Pat's book . :3 Hum/3v ofStone Balloon Pelj‘brmances: subsritut 5 his name as author and then sells twenty comes for $2. 00 each to Stone Balloon customers before he de . l nanager of the Stone Balloon. a pc; 5:1- V--.“ ”3...- to stop. Jennifer. president of the local university’s til association. copies Pat' 5 book entirely (including Pat 5 he. .- as author) and sells thousands of cepies to colleo ge ale “‘2. Neither Frank nor Jennifer have Pat’ 5 permission to use '..-: work. Pat‘s copyright is infringed by :1. F rank only. b. Jennifer only. Jill develops a new espresso machine which site names included with each machine. Jill can obtain ‘ *3 a.. * the espresso machine only /‘ Lib the name "Quick Sl iot' onl} We. Earl designs a 1316“ computer hard drive which lie names 'Sci P ii“ He also “rites the operating manual to be includes {:3 _ sent Frank and Jennifer. d. none of the above. She also writes the operating manual to be the operating manual only. all of the above. ta. (2 with each final product. Earl can obtain patent nrotec rich for , if») the hard drive only. ‘ the operating manual only. c. b. fire name "Sci Phi" only. d. all of the above. Mercurx Running Shoes. lnc uses Al pine Boot Lorporati on s symbol tn: \xlercuijv’s adi ertising without- Alpine s permission. Thisis a. patent infringement ' :9) trademark infringement b. copyright infringement d. theft of a trade score Short Answer (5 points each) 28. in order to create a Delaware corporation. the following items are rcqui red [0 be included in the Certificate of Incorporation- publicly filed \l‘llh the Division of Corporations. In the space next to each item. describe the item and explain its significance. 3. NZHUC. None (7% J‘kfi Corpgyufian Kw” no w‘ _i n 'v i. C\ . ‘ ¥ -. ' > \‘u be. "" ‘ ‘W View“! 5‘“ The.“ éi‘xfi'e Hm?" A 0“ km {a .s tfgv’itv :u 1 .. ix! ”‘ {gt-34*; gleam»); ‘e‘auk. b. Registered Agent: in: W... a; tkt (le‘JQ'cJ 039.». ,3 M2 ,? G! 3: ;\ _‘-,- l r 4'9 R“ 45 ' lt‘tl iEéCx.‘ dunno/x“ 0A LQAfiU-a gel cl. Purpose: aims Me. (A, Quin“ 3“: t . ~ \ t (3’ E) . an 0.0m} in. when» {30.3.}: a: Sew-its; $4,th “tilts; ‘Ibwfll‘f’ l. . .' ' . l ._ . . m e. \ameandiuculiugacomss oflncorporator a“. MM“ it“ .7“ (hm it’ L his % fie 3M“ nl mega manage MW nice an, we. at Mayhem wan/(d tn ctnallleta Ami/w, caernzes ““565 (fir ”>352" 30. The mos: daggeraas and dreaded concept of pzimsrsx- Lu Tiaras advantaos: w? :45» ymgriemrshig ass: {ii ‘ hwy; ,i _~‘— a? a sole propnezorship are; ~23 {2? is”? i C, ii}. 5' by: M4 ' fniciiigienc: has been describédgis "iiizzking sewers ’? 3:25 seeing distinctions". For the gas: semesten we have L :m immducxorjr look at sex‘cmi different iii-E's ’ '-‘" ionszimtionai Law. Criminal Law. Torts. COnlrdhL... Mi Law. can: We have uiso discussed individual fights. gorcrmnem power. personal Gbiigziiious. burde "Ziuiimn", Are ihesc ail jusi' different. isolated su' are; .P {11 E2 in h. {1’ re there any "unifi'izig" principies in law? Can we r: 31111}‘CDIIHCCliOHS£IIId sesfliszmczionsl’ 4 ‘RK .2 "joint and sever-1 liabilif)"'- Why? Explain fully a” u..- aims :71“. szazidards OfCiXI'C‘ and Mm: it means [0 be a p {son or to be 2? do {hey somehow rciziic (0 each other in one or more ways? 21 speni his iife Irving {0 develop a "unified .m: imam”. soiiiciiung Mini “Quiz: :xpiziin ail physical processss Siam the discussion and give ii your best 5110!. film 3;: mu thinking non. dim You ixercn’f thinking :Ji {he beginning of the semesrer‘? What connections can you male?" CCR") was the ”d Mary". "Had E ”T3 singer & guitar-L. 3'31 had a recordi: 7 :- names to [he CCR act (a apical r .2. 32. In the Eat: 1960’s and earh- ms Creedenee Lies.” , platinum albums for Fantasy R cords iv ith sue ..., Looking Out M}- Backdoor" _ fohn i ogam the music to most of the band’s hits Creedez: it hicii produced and distributed all of C CR" M“ COpju‘i iitgl to all matenal created “bile the b l ‘- ; _ successfiii solo C851; 22;} right inffingeinenzi e wrote and recorded :tzrizzen and recorded W‘ In 1972. the band broke up and John Fogara‘ company. In the 1980's. Fantasy Records «3 Fogarty’s new song "The Old Man Down the P7.” much like "Run Through The Iungie". which he Huh? How can the original author/compose: ‘2: 3:: He‘s the author fer'cryinoutloud! Erp/az'n fltfifr: ging the copyright :5 ...
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