Government Intervention
This is the legal process that allows the selling of assets to pay off debts.
What is bankruptcy?
This act's primary purpose is to discourage monopolies by outlawing business agreements among competitors that might tend to compote monopolies.
What is The Sherman Act?
This is an agreement in which the federal government gives an inventor the sole right for 20 years to make, use, and sell an invention or process.
What is a patent?
Each year, this many people are injured in the home using products.
What is millions?
All of these face the risk of failure, and when they do fail, they may go in to bankruptcy!
What are firms?
This law forbids corporations from acquiring ownership rights in other corporations if the purpose is to create a monopoly.
What is The Clayton Act?
These are like patents because they are special types of monopolies.
What are trademarks?
This agency has the power to require any manufacturer, distributor, or retailer that discovers that its product fails to comply with safety regulations to report that fact to the commission.
What is the CPSC?
This was created as the result of many businesses demanding protection from unfair methods of competition.
What is the FTC?
The main purpose of this act was to prevent price discrimination (selling one person a laptop for $150, and selling another person the same product for $800)
What is The Robinson Act?
This is a distinguishing name, symbol or special mark placed on a good or service that is legally reserved for the sole use of the owner.
What is a trademark?
This agency regulates drugs, food, and cosmetics.
What is the FDA?
Many of these protect consumers from the actions of big businesses.
What are government agencies?
This act was passed to strengthen earlier laws outlawing unfair methods of competition.
This law made unfair or deceptive acts or practices, including false advertising unlawful.
What is The Lea-Wheeler Act?
This is similar to a patent in that the federal government gives an author the sole right to reproduce, publish, and sell literary, or artistic work for the life of the author, typically 70 years.
What is a copyright?
The FDA encourages this.
What is nutritional labeling?
True or False! The federal government protects the legal rights of not only those who create new products and ideas but also those who consume goods and services.
True!