Case 1
Facts: Mrs. Garcia, a sole trader running a small bakery, encountered a dispute over the use of a trademarked logo on her products. Seeking clarity, she consulted legal experts to navigate her rights and responsibilities under intellectual property law.
How is this Business Structure Called?
Sole tradership or sole proprietorship
Facts: Ms. Rodriguez, a diligent employee at a tech firm, experienced unfair treatment based on her gender, leading to unequal opportunities and discomfort in the workplace. Seeking resolution, Ms. Rodriguez seeks guidance on her rights under employment law.
What is the Term for this unfair Treatment?
Discrimination
Facts: Mr. Rodriguez needed cash and visited his bank's ATM. After inserting his card and entering his PIN, he selected the amount he wanted to take out. The ATM dispensed the requested cash, allowing Mr. Rodriguez to complete his transaction.
How is this Action of Removing Funds from an ATM Called?
Withdrawal
Facts: Mr. Patel and Mr. Singh are partners in a law firm. At the end of the fiscal year, the firm distributed a portion of its profits to each partner based on their ownership stake and contribution to the business. This distribution, known as a partner's share of profits, reflects the success of the firm and each partner's role in its operations.
What is the Term for the Distribution of Profits to Partners in a Partnership?
Dividend
Facts: Mr. Thompson owns a small grocery store in town. Recently, a new grocery store opened up across the street, offering similar products and services. The presence of this new establishment has intensified competition in the local market, prompting Mr. Thompson to evaluate his business strategies to maintain his customer base.
What is a Business competition called?
Rival
Facts: The company holds its annual meeting every December, where executives present financial reports and outline strategic plans for the upcoming year. Employees also receive performance evaluations and discuss goals for the next year during this annual event.
What is Another Word for Something That Happens Once Every Year?
Annual
Facts: Mr. Patel decided to start a small restaurant business. To finance the venture, he invested his savings and obtained a small business loan. This enabled him to lease a space, purchase equipment, and hire staff to launch his restaurant.
What Term Describes the Funds (collection of shares) Invested in a Business to Start or Expand Operations?
Capital