40 Questions
What is the main purpose of the discovery process in litigation?
To find facts relevant to the case
What is the primary function of patents?
To grant exclusive rights to inventors
Which international organization works to standardize intellectual property systems?
WIPO
What is the main challenge faced by the patent system?
Patent trolls and pirates
What is the purpose of the Madrid Agreement of 1891?
To establish a global trademark registry
What is protected by intellectual property rights?
A wide range of creative works, inventions, and business identifiers
What is the significance of the Global Innovation Policy Center's Intellectual Property Index?
It rates countries based on their intellectual property protection systems
What is the significance of the Burberry Plaid example?
It shows the importance of trademark protection
What is the primary source of legal precedence in a common law system?
Previous court decisions
What is the primary purpose of trade names?
To differentiate products from those of competitors
What is a key principle of common law systems?
The rights of the individual exist alongside those of the state
Which type of intellectual property rights protects tangible property?
Copyrights
What is a characteristic of religious law systems?
They are based on a religious document or source
What is the main purpose of Incoterms?
To establish a standard for international trade
What is a result of a country upholding the rule of law?
Increased foreign investment
What is a key feature of adversarial trials in common law systems?
The trial is structured around a debate between two opposing parties
What is the focus of antitrust laws?
Preventing inappropriately large concentrations of power and its abuse
What is the most common type of intellectual property protection?
Trade secrets
What is the primary purpose of case law in common law systems?
To provide a framework for judicial decision-making
What is a key difference between common law and civil law systems?
Common law systems rely on precedent, while civil law systems rely on statutes
What is the primary purpose of the 2019 Directive on Copyright in the Digital Single Market?
To protect intellectual property rights in the digital age
What is the term for laws that prevent inappropriately large concentrations of power and its abuse?
Antitrust laws
What is a consequence of a country not upholding the rule of law?
Decreased protection of human rights and increased corruption
Which type of intellectual property rights is protected by WIPO and TRIPS?
Trade names
What type of obstacles can hinder international trade, according to the content?
Political, financial, and legal obstacles
What is the main purpose of strict liability standards in product liability cases?
To hold the designer or manufacturer liable for damages without proving negligence
What is the main concern for employees working abroad, according to the content?
Understanding local laws and regulations
What is the main issue in the global debate regarding U.S. dolphin-safe tuna labeling?
The threat to national sovereignty
What is the primary purpose of the Foreign Corrupt Practices Act (FCPA)?
To prohibit bribery in international business
What is a consequence of violating the Foreign Corrupt Practices Act (FCPA)?
Fines and imprisonment for companies and their officers
What is the role of the WTO in the global debate regarding U.S. dolphin-safe tuna labeling?
To ensure the science behind local laws is sound
What is a consequence of not complying with local laws and regulations for employees working abroad?
Legal penalties
Which country has consistently ranked first in the Corruption Perception Index from 2002 to 2017?
New Zealand
What is the significance of UNCAC in the context of facilitating payments?
It allows facilitating payments
Which country has shown the most improvement in the Corruption Perception Index from 1999 to 2019?
South Africa
Which of the following countries has consistently ranked last in the Corruption Perception Index from 2002 to 2017?
Nigeria
Which country has the most significant gap in ranking between 2002 and 2017 in the Corruption Perception Index?
Brazil
Which country has consistently ranked in the top 5 in the Corruption Perception Index from 2002 to 2017?
All of the above
What is the significance of Accounting Law in the context of national legal forces?
It is a specific national legal force
Which country has shown a significant improvement in the Corruption Perception Index from 2004 to 2019?
South Africa
Study Notes
Types of Legal Systems
- Common Law: relies on previous court decisions and interprets statutes and regulations; more adversarial and flexible than civil law systems
- Principles of Common Law Systems:
- Individuals' rights exist alongside those of the state
- The trial is adversarial
- The defendant is presumed innocent until proven guilty
- Case law develops through judgments and precedents
- Case law co-exists with statute law and a constitution
- Crimes are punished and civil wrongs are rectified by compensation
- Religious Law: based on a religious document or source; may prohibit charging interest
International Legal Forces
- Rule of Law: countries based on the rule of law encourage foreign investment and protect human rights
- Intellectual Property Rights:
- Intellectual Property: creative work or invention protected by patents, trademarks, trade names, copyrights, and trade secrets
- Patents: government grant giving the inventor exclusive rights to manufacture, exploit, use, and sell an invention
- Trademarks: shape, color, design, phrase, or sound used to designate and differentiate products
- Trade Names: name used to designate and differentiate products
- Copyrights: exclusive legal rights of authors, composers, creators, and publishers to publish and dispose of their work
- Trade Secrets: information a business wants to hold confidential, including formulas, processes, patterns, and designs
Standardizing Laws Around the World
- Incoterms: predefined commercial terms established by the International Chamber of Commerce (e.g., FAS, CIF, CFR)
Some Specific National Legal Forces
- Competition Laws: prevent inappropriately large concentrations of power and its abuse through price-fixing, market sharing, and monopolies
- Trade Obstacles: political, financial, and legal obstacles, including packaging and language requirements, tariffs, quotas, and voluntary export restraints
- Tort Law: holds companies and officers liable for product liability and damages caused by products
- Miscellaneous Laws: employees working abroad must be aware of local laws, and legal penalties may be harsh
- Foreign Corrupt Practices Act (FCPA): prohibits payments to foreign government officials to receive special treatment
- Corruption Perception Index: ranks countries based on their perceived levels of corruption (e.g., New Zealand, Denmark, Finland, Singapore)
Accounting Law
- Not mentioned in the provided text
Explore the different types of legal systems, including common law and civil law. Learn about their characteristics, advantages, and disadvantages.
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