Legal Environment

Final contract element; for a contract to be valid it must be legal.

A grant to an author that protects his or her original works

A design or symbol that describes a service business.

Latin for buyer beware

Issues patents and trademarks for new products.

Status of a patent while the PTO researches the patent application

Monitors & governs the relationship between employers & unions

Creates & enforces standards for environment, regulating air, water & noise pollution

A group of laws that covers everything from sales to bank deposits & investment securities

When an employee is fired for wrongful reasons

Element of a legal contract stating that you're legally able to enter into a binding agreement

Federal Insurance Contribution Act or social security

Enforces the laws to maintain free trade

Percentage of the price of an item that goes to a state or local government

Element of legal contract speaking of that which is exchanged for promise & causing it binding

The act of selling the same product to different people at different prices

A grant to an inventor that gives him/her the exclusive right to produce & sell an invention

Enforces the antitrust, truth-in-lending, & labeling laws

Licenses the operation of television, radio, telephone & telegraph operations

One is legally able to enter into a binding agreement

Binding legal agreement between two or more persons or parties

What is exchanged for the promise

Establishes product safety standards & recalls products

Condition a product or original works enters when it's unprotected by copyright or patent

Federal agency charged with protecting the rights of employees

Occurs when 1 party to contract makes offer/promise & other party accepts

Status of a patent once the PTO declares that claims are accepted but before actually issued

Guarantee assuring buyer that product is at least average quality & fit for purpose intended

Word, symbol, design, or combination that business uses to identify itself or things it sells

Advertising using bargain-priced item to lure customers than tries to sell a higher-priced item