Shealyn Bonin Legal Environment of Business Study Guide Final Exam Thursday December 10 2015 5 30pm Pencil AND pen TUID 50 Multiple choice 10 T F 3 essay questions 4 5 Q s in each LEAST TESTED MATERIAL Ethics Whistleblower organization person who exposes misconduct or illegal activity in an o Whistleblower Protection Act 1989 protects federal employees who report fraud waste abuse and unnecessary expenditures within the government Does NOT allow employee to file a lawsuit for retaliation by a supervisor International Law International Law Agreements o Treaty o Convention organizations international agreement o Protocol agreement between two or more countries an agreement between members of international agreement that supplements or amends a previous treaty or United Nations fundamental human rights promote social progress etc International Court of Justice main judicial arm of the UN international organization goals are to prevent war safeguard o 15 judges o Only countries may use it not for individuals Sovereign Immunity Act in the U S law that deals with immunity of foreign governments o Foreign countries are immune in U S courts cannot be sued o BUT entities are not immune when conducting commercial transactions recognition of rules and laws of a foreign country out of deference Comity mutuality and respect Vocab foreign government s taking of property without adequate Expropriation compensation Tariff a tax on imports o Increases prices of imported goods o Form of protection from foreign goods Types of Remedies Remedies at Law o Developed from Common Law o Generally an award of money damages Compensatory most common Money award to compensate for person s losses as a result another s wrong doing Punitive Nominal token award Liquidated damages by agreement Remedies in Equity fashion a remedy o Used when an adequate remedy at law does not exist The court can Injunction order to do or not to do something Reformation modify agreement to fix mistake Restitution return defendant s gain Declaratory Judgment clarifies a person s legal rights Specific Performance person must do what he promised Remedies Torts Comparative v Contributory Negligence o Comparative percentage you were not at fault o Contributory compare the amount of harm and can recover for if you were at fault at all then you get nothing Intellectual Property IP Copyrights o Copyright Law Trademark copyright infringement fair use parody o Lanham Act o Trademark infringement potential confusion o Trademark dilution no confusion in market o Parody Patent o Only patents must be registered to get legal protection but good idea to register all o Protection for specified period of time Trade secrets o Confidential business information CyberLaw protect businesses consumers World Intellecutal Property Organization WIPO Anticybersquatting Consumer Protection Act against improper registration of domain names disagreements arising out of a registration and use of domain names Communications Decency Act of 1996 sued as a result of improper conduct of its customers No liability so long as the site makes effort to monitor for derogatory messages Electronic Communications Privacy Act electronic communications including emails protects service providers from being main protection against interception of resolution service for MOST TESTED MATERIAL Courts Pennsylvania Courts PA Supreme Court highest court in the Commonwealth and the oldest appellate court in the nation 7 Justices Commonwealth Court state local governments and regulatory agencies Hears appeal from Courts of Common Pleas AND decisions made y state agencies Acts as a trial when lawsuits are filed by or agains the Commonwealth Superior Court hears appeals from Court of Common Pleas PA Super Court may grant a petition to review a decision but most are denied Court of Common Pleas general trial courts Minor Courts Allocatur Writ of Allocatur permission for an appeal to the PA Supreme Court petition for permission to appeal Federal Courts U S Supreme Court o Court of Appeals 13 District Courts 94 o Highest State Court Third Circuit Court of Appeals o Middle District of PA o Eastern District of PA o Western District of PA Appellate Court o Appellate judge s options Affirm Reverse Remand court s decision must be clarified agrees the lower court made the correct decision finds lower court s decision to be incorrect additional evidence should be obtained or the lower o Civil Case any party can appeal o Criminal Case only defendant can appeal United State Supreme Court o 9 Justices o Writ of Certiorari Supreme Court document asking for permission to appeal to the Can appeal to Supreme Court after highest state or federal circuit court of appeals o Hears topics in which circuit or state courts are conflicted or important questions o Original jurisdiction Ambassadors Consuls Disputes between states Vocab Civil burden Criminal burden Jurisdiction preponderance of the evidene 51 beyond a reasonable doubt court s power to hear a case and grant relief o Federal courts limited jurisdiction o State courts general jurisdiction Business Organizations Types Sole Proprietorship Partnership o One owner does not need permission from governmental agency may need permit Personal liability for all business debts and obligations Keeps all profits and pays personal income tax NO double taxation o Two or more entities co owners Partners share the profits and losses equally unless otherwise agreed Can be implicated does not need to be in writing o Liability o Taxation income tax partners have unlimited liability for the debts of the business profits apportioned to each partner who then pay personal Limited Partnership LP o One or more general partner unlimited liability and one or more limited partners is restricted to that person s investment and has NO say in management of the operation Limited Liability Partnership LLP Corporation name nature and purpose duration capital o Stockholders are owners not personally liable o Articles of Incorporation o Certificate of incorporation o Board of Directors structure internal organization registered office Must be filed with state Elected by shareholders responsible for overall management of the firm issued by the state rules usually about management o Bylaws o Roles in a corporation Shareholders elect the board of directors Board of Directors and appoint officers policy Officers run the business on a daily basis and implement the set policy necessary to