Exam 14: Navigating Legal and Ip Issues

How much does IP theft cost the United States every year?

An employee for a beverage company combines the ingredients used in creating a particular drink mix.Later he/she is fired from the company and decides to sell the same mix under a new label to a competing company.What concept might be represented in this action?

What business entity term refers to a business owner who has not formed a separate entity to run the business?

Before hiring its first employee,a company must get a(n)______ to use on documents and tax returns for the IRS.

Which of the following indicates that an employee is eligible to work in the United States?

The term vesting can best be described as which of the following?

Which of the following forms will let the employer know how much money to withhold from paychecks for federal taxes?

What is a shorter,less technical contract which is a clear agreement between founders on a number of key issues that the business might face?

What government body creates a C-corp?

What should an entrepreneur do if he or she worked on a product with a former employer and wants to market the product as his or her own?

Steve works for a cement company as an IT contractor.The company does not ask Steve to sign a nondisclosure agreement,but Steve has full access to the company databases and documents.Steve also attends meetings during which a new,fast-drying,and injectable product is openly discussed.A year later,Steve reveals the formula to a competing company and is scheduled to receive royalties.Discuss the legal and ethical issues involved in this action.

A limited partnership is made up of which of the following?

Which of the following would most likely be considered fair use of copyrighted material?

Bob and Karin founded a luxury health spa located near natural hot springs.They each owned 30% of the company,with the remaining 40% owned by other shareholders.There were many expenses in the first few years,but by year 4,the company was doing well and had a large base of steady customers.Both Bob and Karin work long hours at the spa and work at marketing and operational tasks.Last week,Bob had an offer from a New York entity to build a luxury spa in Upstate New York and was offered a huge salary.Bob is going to take the offer.Describe the legal protections that could keep Karin from assuming all the work while Bob continues to gain benefit of the company's growth.

Which of the following forms will be needed to indicate federal unemployment tax that will be used should the employee lose his or her job?

Which of the following would most likely be considered fair use of copyrighted material?

In an LLC,how are profits and losses reported?

The most significant factor in determining whether a worker is a contractor or an employee is ______.

How long does a company have to register a newly hired employee with your state directory?

Which of the following must be paid for by the employer in all states?