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C11: The Role of Gov't in Business

AB
antitrust lawsallows the government to break up monopolies, regulate them or take them over
breach of contractwhen one party fails to live up to the terms of a contract
contractlegal agreement between two or more parties to conduct business
copyrightgives artists the sole right to own their creations such as plays, music, photos, etc.
interstate commercebusiness that takes place across all states
intrastate commercebusiness that takes place within a state
oligopolywhen a small number of companies control the market without actually forming a trust
monopolya company that controls an entire industry
trustwhen rival companies agree not to compete with each other
patentgives you the sole right to own an invention
trademarka brand name, trade name, trade characteristic, or a combinantion of these that is given legal protection by the federal government
revenuethe money the government takes in
subsidiespayments the government gives to businesses to make up for their losses
tax incentivesreductions in taxes

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