Copyrights: • They apply to things that are in permanently stored states • A play that has been written or a painting that is stored on campus. • From your lifetime + 70 years from that. • You don’t have to get one form the government (©, name, 2012) • A registered copyright makes it easier to sue and for higher amounts. o Library of congress Consumer Protection Stolen Credit Card Numbers • Federal law that caps your liability at $50 and card has to eat the rest if someone steals the rest. Credit card companies will call and try and blame and try and make you pay for half, which is illegal. o Only two times you actually have to pay. If you gave your card voluntarily. If you fail to promptly notify Card Company about strange charges when you discover them. • Hard to prove when one discovers the charges. Postal Reorganization Act • If you get something in the mail you didn’t ask for, then legally you can treat it as a gift. Ownership is yours immediately and you can do anything you want. Collection Agencys • Usually if it’s a single overpaid bill not a big deal. • But if you have 10 bills overdue and have 10 companies calling you a bunch, it can be annoying. • If you hire a lawyer to help, the agencies have to work with the lawyer and not you and wont call. Business Organizations---get any type from secretary of state office • If you start a small business and you struggle, deciding which type of organization or switching to another could really make a difference. • The whole point of creating one of the middles is to protect your personal wealth by some form of situational limited liablity (left to right)
Partnership: • Advantage this company has is that there is a single layer of federal tax. • Do not have limited personal liability because your business and personal money are in the same bucket.—first basic problem • His opinion, risky to set up a small business at a partnership. • Default setting for new businesses is this unless you choose something else Agency law o If someone considered to be your agent, and if they make a mistake that leads to financial problem, then you can be sued just as much as they can. —2 nd problem o So in a partnership, every partner is considered to be an agent of every other partner. Joint and Several Liability o Operates as a choice to plaintiffs when they are suing groups of people. o Choice is you can sue everyone in the group jointly or you can single out one person and sue just that person. Ex: woman eats and gets sick at a place. She sues place for 50gs. 5 partners, she can sue each for 10gs or she can pick out one person and sue that one person for 50gs. Typically you single out a person if you hear info that someone is rich and can actually collect the money. Limited Liability Partnerships: • If there is a tort lawsuit against your llp and you yourself didn’t have anything to do with it, then your safe.
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