Entrepreneurship & The Law!

Question 1

An exaggeration, usually in advertising, where it doesn’t have any real legal implications

Accepted Answer

Puffery

Question 2

Which IP would protect the invention of a new process or product?

Accepted Answer

Patent

Question 3

Which form of business ownership is subject to double taxation?

Accepted Answer

Corporation

Question 4

the protection or right to a certain creative material such as text, books, music, artistic work or films

Accepted Answer

Copyright

Question 5

Which of the following does NOT matter when entering a contract?

Accepted Answer

Intelligence or IQ level

Question 6

Which type of business ownership is typically the easiest and most affordable to start?

Accepted Answer

Sole Proprietorship

Question 7

As a business owner, which way would NOT be a good way to protect yourself from liability & lawsuits.

Accepted Answer

Sheilding the business from tax laws

Question 8

Protects images including brand names and logos, for example the Nike swoosh.

Accepted Answer

trademark

Question 9

With UNLIMITED liability, a business owner's personal assets, bank account, etc are all at risk of loss.

Accepted Answer

True

Question 10

Which type of business ownership provides LIMITED liability in the easiest/most affordable way?

Accepted Answer

LLC

Questions 10