Contracts
A contract must have this exchange of value between parties.
What is consideration?
A wrongful act that causes harm to another person is known as this.
What is a tort?
This federal law sets minimum wage and overtime rules.
What is the Fair Labor Standards Act?
This protects original works like books, music, and art.
What is copyright?
This is the simplest form of business ownership.
What is a sole proprietorship?
A contract that can be enforced in court is described with this term.
What is a valid contract?
This type of tort involves intentionally causing fear of harmful contact.
What is assault?
Employers cannot discriminate based on protected characteristics under this act.
What is Title VII?
A symbol or phrase identifying a business’s goods is called this.
What is a trademark?
Owners of a corporation are known as this.
Who are shareholders?
This type of contract is created by actions rather than written or spoken words.
What is an implied contract?
Failing to act with reasonable care is known as this.
What is negligence?
This type of employment allows either party to end the relationship at any time.
What is employment at will?
This protects new inventions for a limited time.
What is a patent?
This business structure combines partnership taxation with corporate liability protection.
What is an LLC?
A minor generally has this right regarding contracts they enter.
What is the right to disaffirm?
A business that makes a defective product may be liable under this doctrine.
What is strict liability?
This agency enforces federal workplace discrimination laws.
What is the EEOC?
Secret business information that gives a competitive advantage is known as this.
What is a trade secret?
A partnership where some owners have limited liability is called this.
What is a limited partnership?
This doctrine allows a court to enforce a promise even without a contract if someone relied on it.
What is promissory estoppel?
False statements that harm someone’s reputation fall under this tort.
What is defamation?
A worker who reports illegal activity by their employer is known as this.
What is a whistleblower?
Using someone’s protected work without permission is called this.
What is infringement?
This document outlines how a corporation will operate and is filed with the state.
What are the articles of incorporation?