Exam 3: Organizing and Financing a New Venture

Wealthy individuals who invest in early stage ventures in exchange for the excitement of launching a business and a share in any financial rewards are known as:

The articles of incorporation are the basic legal declarations contained in the corporate charter.

In which form of business organization is the taxation effects characterized by the income flowing to shareholders taxed at personal tax rates?

Based on 2015 tax schedules, the highest marginal tax rate on corporate taxable income is:

Financial bootstrapping maximizes the need for financial capital.

In which form of business organization are the owners not offered the protection of limited liability?

Which of the following is not a right or a duty of general partners?

In a general partnership, legal action that treats all partners equally as a group is called:

Limited liability in the corporate business structure means creditors can seize only some of the corporation's assets.

Which of the following are intellectual property rights granted for inventions that are useful, novel, and non-obvious?

Based on 2015 tax schedules, the first dollar of personal taxable income is taxed at which of the following marginal tax rates:

The Leahy-Smith America Invents Act of 2011 was passed, in part, to alleviate the backlog of patent-related lawsuits.

Which of the following are intellectual property rights in the form of inventions and information such as formulas, processes, and customer lists that are not generally known to others and which convey economic advantage to the holders?

Patent Trolls are firms authorized by the U.S. Congress to help reduce the number of patent-related lawsuits.

There are four kinds of patents.

The average tax rate for a single filer with taxable income of $37,450 would be:

Certification marks are typically used to:

Nondisclosure agreements prohibit the creator of an idea or other form of intellectual property from sharing it with others once it has been presented the first time.

"Business method" patents protect a specific way of doing business and the underlying computer codes, programs, and technology.

The maximum dollar amount of income taxes in the $37,450-$90,750 "bracket" paid by a single filer with taxable income of $90,750 would be: