Ethics
What is the ethics system based on what is best for the most amount of people? (Max Good)
Utilitarianism
The business entity where an entrepreneur takes on complete liability for the company
A Sole Proprietorship
What is the highest court in Virginia?
VA Supreme Court
A cashier is an example of what type of worker?
Unskilled
Finish the quote:
What is legal is NOT always ____
Ethical
What is the ethics system based upon an individual's rights?
Deontology
The business entity that combines Federal pass-through taxation with the liability protections of a corporation
Limited Liability Corporation (LLC)
What is the decision in a court case called?
The Holding
Managers, directors, technicians, and specialists are what type of worker?
Key Workers
The baseball team that did not follow ethics either top-down or bottom-up
The Astros
A legally enforceable promise (written or verbal)
A Contract
This business entity takes on double taxation
C-Corporation
The types of rules on business industries that have the force of law and are set by agencies (The FDA, FERC, FCC, all set these)
Regulations
This right protects your secrets with your attorney when discussing legal advice, but not when it is to further a crime
Attorney-Client Privilege
A ____ Board of Directors is good to have, because it allows for their rule of business judgement not to be influenced
Independent
The unethical and sometimes illegal practice of encouraging co-workers to leave with you and start a competing business
Solicitation of Co-Workers
Three ways to raise money for a start-up:
1. Loans
2. Venture Capital
3. Personal Cash
4. Family members/Friends/Donations
5. Crowdfunding
The law that prohibits an employee from disclosing or using trade secrets belonging to the former employer even in the absence of a confidentiality agreement?
Uniform Trade Secrets Act
This type of worker is not required insurance or social security by the employer and normally keeps a written agreement
Independent Contractor
A piece of written law, passed by the legislative branch
A Statute
The LLC document that puts forward each members' rights, restrictions, and obligations
An Operating Agreement
Two forms of payment for stock options:
1. Cash
2. More shares of stock
3. Promissory Note
4. Net Excess
The two duties that the board of directors owe to the company they serve on
The Duty of Care and The Duty of Loyalty
Virginia keeps these set of laws for workers, which allows them not to be forced to join a union to work
Right to Work
What the graph showing electricity usage throughout the day is referred to that was shown by Speaker Bernard McNamee:
The "Duck Curve"