Acts and Laws #1
What is the Federal Trade Commission Act?
Outlaws unfair methods of competition and outlaws unfair acts or practices that affect commerce.
What is the Uniform Commercial Code?
A set of laws that provide legal rules and regulations governing commercial or business dealings and transactions
What is the Patent Act of the U.S.?
A Patent Act is a country's legislation that controls the use of patents
What is collusion?
Secret or illegal cooperation or conspiracy, especially in order to cheat or deceive others.
What is the Family and Medical Leave Act?
Labor law requiring covered employers to provide employees with job-protected and unpaid leave for qualified medical and family reasons.
What are antitrust laws?
The antitrust laws proscribe unlawful mergers and business practices in general terms.
What is a breach of warranty?
A breach of warranty occurs when claims or representations made about a particular product, at the time of sale, later prove to be false or erroneous.
What is the Lanham Act [trademark]?
The Act prohibits a number of activities, including trademark infringement, trademark dilution, and false advertising.
What is an oligopoly?
a state of limited competition, in which a market is shared by a small number of producers or sellers.
What is the Fair Labor Standards Act?
Federal law which establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards affecting full-time and part-time workers
What is the Sherman Antitrust Act?
The law attempts to prevent the artificial raising of prices by restriction of trade or supply.
What is a breach of fiduciary duty?
A breach of fiduciary duty happens if a fiduciary behaves in a manner that contradicts their duty, and there are serious legal implications.
What is the Copyright Law?
Copyright is a form of intellectual property that grants the creator of an original creative work an exclusive legal right to determine whether and under what conditions this original work may be copied and used by others
What is price fixing?
The maintaining of prices at a certain level by agreement between competing sellers.
What is the Social Security Act?
U.S. legislation establishing a permanent national old-age pension system through employer and employee contributions
What is the Clayton Act?
The Clayton Antitrust Act is an amendment passed by U.S. Congress in 1914 that provides further clarification and substance to the Sherman Antitrust Act of 1890.
What is an anticipatory breach?
An action that shows a party's intention to fail to perform or fulfill its contractual obligations to another party
What is the difference between a patent and a trademark?
Patents prevent others from making or selling an invention, but trademarks protect the words, phrases, or other devices used to identify the source of goods or services from usage by other competitors.
What is a group boycott?
Type of secondary boycott in which two or more competitors in a relevant market refuse to conduct business with a firm unless the firm agrees to cease doing business with an actual or potential competitor of the firms conducting the boycott.
What is the Occupational Safety and Health Act?
US labor law governing the federal law of occupational health and safety in the private sector and federal government in the United States
What is the Federal Trade Commission?
The Federal Trade Commission works to prevent fraudulent, deceptive, and unfair business practices.
What is breach of rental agreement?
A breach of a lease agreement is certainly a rough patch in the landlord-tenant relationship
What is intellectual property?
Category of property that includes intangible creations of the human intellect.
What is a monopoly?
The exclusive possession or control of the supply of or trade in a commodity or service.
What is the Fair Labor Standards Act?
It establishes minimum wage, overtime pay, recordkeeping, and child labor standards affecting full-time and part-time workers