Legal Aspects
Intellectual Property
License
temporary access to property
Patents
exclusive rights to make, use or sell product
Trademark
protecst a representative entity of company
Copyright
protects creative work
Unfair Practice
Federal agencies against it
federal communications commissions
security and exchange comission
food and drug administration
misleading advertising
untrue claims regarding function, quality and effectiveness
-fraudulent
-illegal
limiting to free competition
Easements
-appurtenant
-in gross
-by necessity
-by prescription
Irrevocable rights to limited use of another's land for given period of time
Types Of Businesses
Corporation
whole committee own
Partnership
2 or more owners
Sole Propirietorship
one owner
Contracts
Types of Practice
Written
Oral
Legally Binding agreement between 2 parties
Types of Contracts
Requirements
consideration
capacity
legality
genuine asset
offer and acceptance
Legal Contract
clears out ambiguities
created during negotiations
Employment Agreements
-wages
-benefits
-employment policies
more complex between worker and employee
Employment contracts
-express agreements between employer and employee
-implied agreements between employer and employee
-employment federal and state laws and regulations
between worker and employee
Employing
Agents
May bind them to contracts
Represent businesses
Employees
Unions
Paid based on amopunt of work time
Independent Contractors
Do not need to follow the rules
Hired to do specific tasks
Credit
Interest
Credit cards
Most common
