BUS-L201 Exam Review Sheet
Review Sheet L201 Exam III
The exam will consist of 50 multiple choice questions worth 4.8 points apiece (for a total of 240 points). The exam will cover the topics listed below. Please note that I reserve the right to use topics and terms not included on this list for incorrect answers.
1. Copyright
a. What it does
b. How rights are acquired
c. How long copyright is protected
d. First-Sale Doctrine
2. Patent
a. What it does
b. How rights are acquired
i. Patentable subject matter ii. Novelty requirement iii. Nonobvious requirement iv. Utility requirement
3. Trademark
a. What it does
b. How rights are acquired
i. What is trademarkable
4. Trade secret
a. What it does
b. Factors to consider when determining trademark status
c. When acquisition, use or disclosure of a trade secret constitutes an actionable misappropriation
d. Comparison with patents
5. Functions of agency law-when you can delegate to somebody the
6. Creation of an agency-use objective standard, not what you thought what it looked like, both parties need to be willing to participate,
7. Capacity- bc it’s principal entering contract need to be consented, agents can be younger than 18
8. Nondelegable obligations-cant assign/delegate duties to just anyone, certain things cannot be delegated to agent like voting, signing will, etc., co. sometimes delegate tasks, but if service their delegating is matter of public safety(malls) principle cannot delegate away their liability
9. Authority
a. Actual Authority
i. Express-you say “be my agent, sell me house” ii. Implied-I told you to do something and in order to do it you need to do other things: buy supplies for open house, list it, etc.
b. Apparent Authority-arises from principal when making 3rd party believe agent has authority to enter into contract
10. Duties of Agent to Principal
a. Duty of loyalty-avoid conflicts of interest w/ P, can’t compete w/P, go against benefit
b. Duty of confidentiality-keep info
The exam will consist of 50 multiple choice questions worth 4.8 points apiece (for a total of 240 points). The exam will cover the topics listed below. Please note that I reserve the right to use topics and terms not included on this list for incorrect answers.
1. Copyright
a. What it does
b. How rights are acquired
c. How long copyright is protected
d. First-Sale Doctrine
2. Patent
a. What it does
b. How rights are acquired
i. Patentable subject matter ii. Novelty requirement iii. Nonobvious requirement iv. Utility requirement
3. Trademark
a. What it does
b. How rights are acquired
i. What is trademarkable
4. Trade secret
a. What it does
b. Factors to consider when determining trademark status
c. When acquisition, use or disclosure of a trade secret constitutes an actionable misappropriation
d. Comparison with patents
5. Functions of agency law-when you can delegate to somebody the
6. Creation of an agency-use objective standard, not what you thought what it looked like, both parties need to be willing to participate,
7. Capacity- bc it’s principal entering contract need to be consented, agents can be younger than 18
8. Nondelegable obligations-cant assign/delegate duties to just anyone, certain things cannot be delegated to agent like voting, signing will, etc., co. sometimes delegate tasks, but if service their delegating is matter of public safety(malls) principle cannot delegate away their liability
9. Authority
a. Actual Authority
i. Express-you say “be my agent, sell me house” ii. Implied-I told you to do something and in order to do it you need to do other things: buy supplies for open house, list it, etc.
b. Apparent Authority-arises from principal when making 3rd party believe agent has authority to enter into contract
10. Duties of Agent to Principal
a. Duty of loyalty-avoid conflicts of interest w/ P, can’t compete w/P, go against benefit
b. Duty of confidentiality-keep info