Unethical and illegal activity within a business is acceptable as long as it benefits the business.

LLC’s are known for helping protect the owner's personal assets.

It’s not important for businesses to know what can get them into legal trouble.

Indicate whether the statement is True or False. Consumers have the right to choose between competitive goods and have the right to have their concerns heard.

Federal Trade Commission and the Food and Drug Administration missions are the exact same.

Understanding the legal system and how these laws impact businesses, consumers, and society is crucial for your success as a future professional.

Contract Law is an area of law that relates to guiding parties (individual or businesses) to making and enforcing legally binding agreements.

Laws do not reflect the circumstances and cultures that create them.

If accidents ever happen in the workplace, government agents are able to investigate the violations and can issue citations for non-compliance.

Every state has the same property laws when it comes to ownership and transfers of property.

The purpose of a non-profit is something other than making a profit and it benefits the public.

Businesses deal with crime often and it’s important for all professionals to know how to identify crimes and when they are happening, to help a business stay safe and successful.

Corporations don’t have to register with the state and need to determine company directors.

It’s extremely important for businesses to make sure they follow consumer laws, as it not only protects consumers but also protects their business.

Some consumer protection statutes provide consumers who are harmed by a violation of the statutes the ability to sue the business or organization that acted wrongfully.

Teen workers are injured more often on the job because of not having a lot of work experience.

All contracts must go through a contract lawyer before it’s legal.

The whole purpose behind intellectual property is products of human intellect should be given the same protective rights as physical property.

It’s important to have a well-drafted, valid contract, for courts to view a contract as legally enforceable.

Patents are good for 10 years and then you have to renew them.

Has one general partner who is fully responsible for the business and then another partner/s who are passive and do not participate in day-to-day functions of running the business, but they have invested in the business.

The rules of conduct that state how people should or shouldn’t behave in society to keep stability and justice.

An institution set up by the government that interprets the law, in order to settle disputes.

Is being legally responsible for something.

Brings charges to the person accused of breaking the law and committing a crime.

A type of business ownership where there can be a single or multiple owners, like a partnership, but you have an option to be taxed like a corporation.

Many owners but when the owners change, the company does not dissolve. The owners are also known as the shareholders. They then elect a board of people to make company policies and decisions.

A business owned by one person.

Zoe creates a unique piece of digital artwork. The law protects her creation from unauthorized use by others. What is this type of protection called?

Which set of rules governs the formation, operation, and termination of businesses?

What is it called when a party fails to fulfill their contractual duties without a valid reason?

A charter that establishes the government and the rules under which the government must run.

The way to protect artists, composers, or author's original work.

Two or more people operating a business as co-owners, who share all profits.

An extension of the Equal Pay Act and requires employers to make sure they are pay equally and not discriminating by records in order to prove this.

A legally binding agreement between two or more parties that creates mutual obligations enforceable by law.

Something owed, usually money.

A document that grants exclusive rights to an invention, from making, selling, and using.

The person who is accused of committing the crime is called this.

A system of laws that defines crimes and sets punishments for society.

The land and everything attached to the land.

Types of laws prohibit job discrimination within the workplace.

Laws put into place so there is equal pay amongst men and women.

A system of laws concerned with relations between individuals and defines their legal rights.

The legal rules that apply to what a person or a business owns.

Acting with integrity by being honest, professional, and fair.

Which type of partnership has partners that are only liable for their investment in the partnership?

Business laws are created for which of the following reasons?

Which of the following is not legally capable of entering a contract?

What does consumer law protect you from?

Our country provides small businesses with resources they can use to help them get started and be successful. What is this government agency called?

How many years are copyrights good for after someone passes away?

What is the highest level of courts?

Which type of law deals with disputes between individuals or organizations over contracts and property?

What is the term for the legal responsibility a business has for any harm caused by its products or actions?

Which document protects original works of authorship such as books, music, and art from being copied without permission?

Which agency is responsible for implementing laws and regulations to protect employees?

Megan recently applied for a position at a store in the mall. She has a prosthetic arm. The employer refused to hire her for a sales position. Which act is this company violating?

The power a principal explicitly gives an agent in words, orally or in writing, to act for the principal

The person who has authorized an agent to represent him or her

Larceny may be considered either a felony or a misdemeanor, depending on the value of what was stolen

Lying under oath is called extortion

A minor traffic offense does not require criminal intent

A misdemeanor is a serious crime that is usually punishable by a long prison sentence in a federal prison

What is eminent domain?