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What does Industrial Property Law regulate?
What does Industrial Property Law regulate?
What is the primary function of distinctive signs in Industrial Property Law?
What is the primary function of distinctive signs in Industrial Property Law?
Trademarks are typically protected for all economic areas (sectors/activities).
Trademarks are typically protected for all economic areas (sectors/activities).
False
Collective trademarks are used to distinguish products or services from associations.
Collective trademarks are used to distinguish products or services from associations.
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What is the key requirement for obtaining a trademark?
What is the key requirement for obtaining a trademark?
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What is the lifespan of a trademark?
What is the lifespan of a trademark?
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Which of the following is NOT an absolute prohibition for trademark registration?
Which of the following is NOT an absolute prohibition for trademark registration?
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How do Industrial Creations contribute to society?
How do Industrial Creations contribute to society?
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A patent guarantees the inventor the exclusive right to use their invention, but not necessarily the production and profit from it.
A patent guarantees the inventor the exclusive right to use their invention, but not necessarily the production and profit from it.
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A new invention is patentable even if it is obviously derived from the current state of science.
A new invention is patentable even if it is obviously derived from the current state of science.
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What is the primary way that a patent's ownership is established?
What is the primary way that a patent's ownership is established?
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Patents have a limited lifespan, and there is no possibility of renewing them.
Patents have a limited lifespan, and there is no possibility of renewing them.
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Under whatcircumstances can an employee's invention within a company belong to the company?
Under whatcircumstances can an employee's invention within a company belong to the company?
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Patent license agreements always require the licensee to pay the licensor royalties.
Patent license agreements always require the licensee to pay the licensor royalties.
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The purpose of free competition is to protect consumers from unfair practices.
The purpose of free competition is to protect consumers from unfair practices.
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What is the principle underlying free competition?
What is the principle underlying free competition?
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What are the main benefits of free competition for consumers?
What are the main benefits of free competition for consumers?
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Collusive conduct refers to:
Collusive conduct refers to:
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The Abuse of Dominant Position occurs when a company uses its dominant market position to unfairly exploit competitors.
The Abuse of Dominant Position occurs when a company uses its dominant market position to unfairly exploit competitors.
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Which of the following is NOT a type of 'Abusive Conduct' in the context of the Abuse of Dominant Position?
Which of the following is NOT a type of 'Abusive Conduct' in the context of the Abuse of Dominant Position?
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Legal rules cannot be used to justify behaviors that restrict competition in the market.
Legal rules cannot be used to justify behaviors that restrict competition in the market.
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Economic concentrations are always harmful to free competition because they create monopolies.
Economic concentrations are always harmful to free competition because they create monopolies.
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What is the purpose of Public Aids as defined in the LDC?
What is the purpose of Public Aids as defined in the LDC?
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What is the primary role of the CNMC (Spanish Competition Commission)?
What is the primary role of the CNMC (Spanish Competition Commission)?
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Comparative advertising is always prohibited.
Comparative advertising is always prohibited.
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Acts of Unfair Competition can only involve actions taken against competitors, not consumers.
Acts of Unfair Competition can only involve actions taken against competitors, not consumers.
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What is the key difference between the legal framework for the Defense of Free Competition and Unfair Competition?
What is the key difference between the legal framework for the Defense of Free Competition and Unfair Competition?
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An obligation is defined as a legal relationship between a creditor and a debtor where only the creditor has obligations.
An obligation is defined as a legal relationship between a creditor and a debtor where only the creditor has obligations.
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What are the essential elements of a valid contract?
What are the essential elements of a valid contract?
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What are the primary sources of obligations?
What are the primary sources of obligations?
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A joint obligation requires each party to be fully liable for the entire debt.
A joint obligation requires each party to be fully liable for the entire debt.
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Which of the following is NOT a method for extinguishing an obligation?
Which of the following is NOT a method for extinguishing an obligation?
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When an obligation is extinguished, only the debtor's responsibilities are terminated.
When an obligation is extinguished, only the debtor's responsibilities are terminated.
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Commercial contracts are presumed to be joint and several unless otherwise stated.
Commercial contracts are presumed to be joint and several unless otherwise stated.
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A commercial sale and purchase contract requires goods to be delivered within 10 days of the agreement.
A commercial sale and purchase contract requires goods to be delivered within 10 days of the agreement.
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A buyer in a commercial sale and purchase contract has no obligation to accept defective goods, even if the seller offered guarantees.
A buyer in a commercial sale and purchase contract has no obligation to accept defective goods, even if the seller offered guarantees.
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Agency Agreements are always short-term agreements focusing on a single transaction.
Agency Agreements are always short-term agreements focusing on a single transaction.
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An agent in an Agency Agreement is always responsible for assuming operational risks.
An agent in an Agency Agreement is always responsible for assuming operational risks.
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The principal in an Agency Agreement has a duty to pay the agent only if they successfully complete a transaction.
The principal in an Agency Agreement has a duty to pay the agent only if they successfully complete a transaction.
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A Commercial Concession Agreement typically involves a dealer selling goods exclusively within a specific region.
A Commercial Concession Agreement typically involves a dealer selling goods exclusively within a specific region.
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The principal in a Commercial Concession Agreement bears the primary responsibility for operational risks.
The principal in a Commercial Concession Agreement bears the primary responsibility for operational risks.
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In a Commercial Concession Agreement, the dealer must always accept all the terms and conditions set by the principal, regardless of potential risks.
In a Commercial Concession Agreement, the dealer must always accept all the terms and conditions set by the principal, regardless of potential risks.
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The principal in a Franchise Agreement provides the franchisee with a guarantee of financial success.
The principal in a Franchise Agreement provides the franchisee with a guarantee of financial success.
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The franchisee in a Franchise Agreement is essentially an employee of the franchisor.
The franchisee in a Franchise Agreement is essentially an employee of the franchisor.
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Banking contracts can only establish legal relationships related to liabilities.
Banking contracts can only establish legal relationships related to liabilities.
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A bank's obligation in a current account is limited to providing cashier services.
A bank's obligation in a current account is limited to providing cashier services.
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Savings accounts are designed primarily for entrepreneurs seeking short-term financial management solutions.
Savings accounts are designed primarily for entrepreneurs seeking short-term financial management solutions.
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Deposits at sight are typically linked to current accounts because they offer higher interest rates and flexible access.
Deposits at sight are typically linked to current accounts because they offer higher interest rates and flexible access.
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The Deposit Guarantee Fund provides protection for all deposits, regardless of the bank's financial health.
The Deposit Guarantee Fund provides protection for all deposits, regardless of the bank's financial health.
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Bank loan contracts always involve the transfer of funds.
Bank loan contracts always involve the transfer of funds.
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Credit lines offer a flexible borrowing option with the option to access funds immediately but at a higher cost than traditional bank loans.
Credit lines offer a flexible borrowing option with the option to access funds immediately but at a higher cost than traditional bank loans.
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The 'Execution' phase of a credit line involves the initial establishment of the credit limit and terms of the agreement.
The 'Execution' phase of a credit line involves the initial establishment of the credit limit and terms of the agreement.
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Bank discounting primarily involves providing short-term loans to companies.
Bank discounting primarily involves providing short-term loans to companies.
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Letters of credit are primarily used for domestic transactions.
Letters of credit are primarily used for domestic transactions.
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A bank that provides a letter of credit is only obligated to provide legal and financial security to the buyer.
A bank that provides a letter of credit is only obligated to provide legal and financial security to the buyer.
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Indirect financial intermediation relies on banks utilizing their own funds solely to facilitate financial transactions.
Indirect financial intermediation relies on banks utilizing their own funds solely to facilitate financial transactions.
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The spread between interest rates on deposits and loans is the primary source of banks' profits.
The spread between interest rates on deposits and loans is the primary source of banks' profits.
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Collateral is always required for mitigating financial risk in banking transactions.
Collateral is always required for mitigating financial risk in banking transactions.
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A restructuring plan is a mandatory step before declaring insolvency.
A restructuring plan is a mandatory step before declaring insolvency.
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Insolvency proceedings only apply to individuals, not legal entities such as companies.
Insolvency proceedings only apply to individuals, not legal entities such as companies.
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The purpose of insolvency proceedings is solely to protect the financial interests of creditors.
The purpose of insolvency proceedings is solely to protect the financial interests of creditors.
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The debtor always initiates the insolvency proceeding.
The debtor always initiates the insolvency proceeding.
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The debtor remains in control of their business and assets throughout the insolvency proceeding.
The debtor remains in control of their business and assets throughout the insolvency proceeding.
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Insolvency receivers are appointed by the debtor to manage the insolvency proceedings.
Insolvency receivers are appointed by the debtor to manage the insolvency proceedings.
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The continuity of the debtor's business activity is always interrupted during insolvency proceedings.
The continuity of the debtor's business activity is always interrupted during insolvency proceedings.
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During an insolvency proceeding, the debtor is obligated to collaborate with the judge and the insolvency receiver, but not to provide accounting books or other relevant documents.
During an insolvency proceeding, the debtor is obligated to collaborate with the judge and the insolvency receiver, but not to provide accounting books or other relevant documents.
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The insolvency proceeding is primarily focused on determining the value of the debtor's assets.
The insolvency proceeding is primarily focused on determining the value of the debtor's assets.
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Insolvency debts are categorized based on their priority level, with salaries and public credits ranking higher than secured debts.
Insolvency debts are categorized based on their priority level, with salaries and public credits ranking higher than secured debts.
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Payment agreements are only possible if the debtor can fully repay all creditors.
Payment agreements are only possible if the debtor can fully repay all creditors.
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The winding-up phase of an insolvency proceeding always involves a complete sale of the debtor's business.
The winding-up phase of an insolvency proceeding always involves a complete sale of the debtor's business.
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A judge's decision in an insolvency proceeding can only result in a settlement plan or a winding-up.
A judge's decision in an insolvency proceeding can only result in a settlement plan or a winding-up.
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An insolvency proceeding is deemed fraudulent if the debtor mismanages the firm but without intent to deceive creditors.
An insolvency proceeding is deemed fraudulent if the debtor mismanages the firm but without intent to deceive creditors.
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Consequences of fraudulent insolvency can involve disqualification of guilty parties, but not financial responsibility.
Consequences of fraudulent insolvency can involve disqualification of guilty parties, but not financial responsibility.
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Study Notes
Industrial Property Law
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Regulates the intellectual property of human intellects applicable to industries
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Function:
- Protects the private interest of the author, rewarding efforts
- Serves the general interest, ensuring transparency to markets and consumers
- Protects inventions from remaining hidden, promoting social progress
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How it Works:
- Grants exclusive right of use to the owner
- Prohibits others from using it without permission
- Distinctive signs include logo, name, or slogan, etc.
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Functions:
- Differentiates and identifies products
- Trademarks and trade names grant exclusive rights for use in economic traffic
Trademark and Trade Name
- Trademark:
- Logo or visual representation
- Protected for certain economic areas/sectors
- Exceptions for well-known companies (Apple, for example)
- Protected for all classes
- Trade name:
- Company name
- Identifies the entrepreneur
- Protected for certain economic areas/sectors
- Exceptions for well-known companies (Apple, for example)
- Protected for all classes
Industrial Creation
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Industrial creations are results of human activity addressing technical problems to meet community needs
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Patents guarantee exclusive enjoyment of invention results to the inventor
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Others may copy inventions but the inventors still retain right to their outputs
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Patentable inventions imply inventive activity, capable of industrial application -New: not already described/included in current scientific knowledge -Inventive activity: not obvious from current scientific knowledge -Industrial application: can be in any industry
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Elements of the patent right: -Registration in the registry -Rights grant monopoly over the output of the invention -Obligations to exploit the patent -Limited duration: 20 years/non-renewable -Ownership, patent can be joint, or employee-owned depending on circumstances and compensation if it's a business invention
Protection of Free Competition and Prohibition of Unfair Competition
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Underlying principle: protect free competition and ensure fair practices
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Importance of competition (for consumers):
- Low prices
- Better quality
- Increased choice
- Innovation & better alternatives
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Core concepts: -Collusive conduct: illicit agreements to fix prices, limit production, or share markets (requires 3 assumptions -agreement, restriction, total or partial national market affectation) -Abuse of Dominant Position: Unfair exploitation of a dominant position in the national market – Requires Dominant Position and Abusive Conduct -Exemptions: behaviors resulting from a legal rule or minor inportance. (effects less than 10% of the market (unless fixing prices or limiting production)
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Public interest, authorized by the CNMC: -Economic Concentrations (Mergers/acquisitions reviewed to ensure they do not harm competition)
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Public Aids: EU law generally prohibits aids that distort market competition
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Supervisory Bodies
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National: CNMC (National Commission of Markets and Competition)
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EU: European Commission
Commercial Obligations and Contracts
- General theory of Obligation and Contract:
- Legal relationship between creditor and debtor
- Debtor's duty to perform an act (giving, doing, or refraining)
- Key Elements
- Subjective: creditor's rights & debtor's duties
- Objective: the act must be lawful, possible, determined, & have economic value
- Sources include: Law, contracts, & acts of negligence.
Collaboration and Distribution Agreements
- Purpose: entrepreneurs use effective systems for commercializing and distributing goods/services
- Collaboration types: commercial collaboration contracts (excluding employment contracts) Types of Agreements: Agency, Commercial Concession, and Franchise
Banking Contracts
- Definition: Establish, regulate or terminate legal relationships for banking transactions
- Key Characteristics: Acts of commerce, remunerated financial services, adhesion contracts, atypical agreements.
- Types of transactions:
- Liabilities: banks receive funds
- Liabilities (Deposits) at sight or term
- Assets: banks provide financing to customers
- Neutral: supporting credit services (current accounts, credit cards)
Business Crisis and Insolvency
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Restructuring plans (pre-insolvency alternatives): legally viable proposals to avoid insolvency -Insolvency procedure (mandatory) : legal process for resolution of debtor's inability to pay
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Insolvency ≠ decapitalization
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Widespread insolvency of debtor due to current or imminent inability to repay debts
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Classification of Insolvency: -Types of insolvency depend on whether breach of law, error or negligence are involved
- Consequences/possible economic responsibility
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Description
This quiz covers the fundamental aspects of Industrial Property Law, including trademarks and trade names. It explores the importance of protecting intellectual property and the rights granted to owners within various economic sectors. Test your understanding of how these concepts promote social progress and market transparency.
