Exam 15: Navigating Legal and Ip Issues

A limited partnership is made up of which of the following?

What legal structure determines minimum wage and overtime pay?

An employee for a beverage company combines the ingredients used in creating the mix.Later he is fired from the company and decides to sell the same mix under a new label to a competing company.What concept might be represented in this action?

In an S corporation, taxes are "passed through." This means which of the following?

Licensed professionals such as doctors, lawyers, architects, and accountants are legally permitted to form an LLC.

A limited liability partnership protects the owners from liability, and taxes are paid by the corporation.

Why did Corey Hague, founder of FlexGround, establish separate companies rather than operate one company with national presence?

Many resources exist for entrepreneurs.Legal clinics are an excellent source.Which of these clinics would offer the best advice?

Which of the following would NOT be placed in an employee handbook?

Bob and Karin founded a luxury health spa located near a natural hot springs.They each owned 30% of the company, with the remaining 40% owned by other shareholders.There were many expenses in the first few years, but by year 4, the company was doing well and had a large base of steady customers.Both Bob and Karin work long hours at the spa and work at marketing and operational tasks.Last week, Bob had an offer from a New York entity to build a luxury spa in Upstate New York and was offered a huge salary.Bob is going to take the offer.Discuss what legal concepts could be in place that would help protect Karin from assuming the work while Bob continues to gain benefit of the company's growth?

Unless otherwise defined, who owns the product idea when an employer hosts a "hackathon" where participants share their ideas?

Which of the following might support a claim that the person you hired as a contractor might be classified as an employee?

In order to know what posters need to be placed in your office, which of the following would be a good source?

What cannot be protected as intellectual property?

As a sole proprietorship, what schedule will you need to fill out to report your business income?

What is the name of the organization, sponsored by the Small Business Administration, that serves as counselors to entrepreneurs and business owners?

Companies with less than 10 employees are not required to post federal and state notices informing employees of their rights under labor laws.

According to the International Trade Union Confederation (ITUC), which of the following countries scores highest for equality at work?

How long does a federally registered trademark last before it must be renewed?

What government agency authorizes a C-corp?