Chapter 3 Review Quiz

Full and truthful disclosure ________.

• is often required under tort law
• is a matter of ethics, not a legal requirement
• is a risky business practice because it helps the competition
• is a strictly personal choice

Common IP law-mandated periods of protection are ________.

• copyrights are protected for twenty years
• patents are protected for fifty years
• trademarks are protected for renewable ten-year periods
• trade secrets are protected for fifteen years

Acting ethically includes acting with which of the following?

• integrity
• disclosure
• transparency
• All of these options are correct.

Antitrust law:

• may help small entrepreneurs by ensuring big companies do not have monopolies
• may hurt small entrepreneur by requiring them to disclose trade secrets
• only applies to businesses with over 500 employees
• None of these options are correct.

Patents ________.

• are similar to trade secrets under IP law
• allow a temporary monopoly for an invention
• are protected under IP law for a period of ninety-nine years
• None of these options are correct.

An example of a company(s) that have been fined millions of dollars for legal/ethical violations includes ________.

• Enron
• TOMS
• British Petroleum
• a and c

The B-corporation moniker ________.

• requires government certification
• requires no certification
• can only be used after an audit and certification by the B-corp organization
• is a social media concept used primarily for marketing purposes

What differentiates a social entrepreneurial enterprise from a traditional entrepreneur?

• commitment to reduce pollution
• pledge to undertake sustainable supply chain sourcing
• effort to recycle water, waste, and other byproducts
• All of these options are correct.

Core qualities for building a foundation of ethics-based behaviors include ________.

• trust
• fairness
• excellence
• All of these options are correct.

Millennial workers ________.

• often do not place salary as their first priority
• want work-life balance
• usually expect their employer to have an ethical value system
• All of these options are correct.