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ITB Chapter 7 Review 4

Legal Environment of Business

AB
Prohibits price fixing among competitorsFTC
Exists when producers are in a position to control the prices of goods or servicesmonopoly
Protects an inventor for 17 years (Now 20 years)patent
Protects artistic works 50 years beyond the life of the authorcopyright
A distinguising name, symbol, or mark reserved for one ownertrademark
Responsibility for injury arising from wrongful use of datainformation liability
Specifies which land areas may be used for homes or businesseszoning
Applies to products made in one state and sold in other statesinterstate commerce
Selling to customers located in the same stateintrastate commerce
Permits a business to use public property for private usepublic franchise
Levied on selected products, such as gasolineexcise tax


West Harrison, CSD
Mondamin, IA

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