Business Law's questions

1

The business judgment rule generally is a judicial law whose aim is to offer protection to managers from the personal civil liability due to the decisions that they make unless these managers are guilty of committing any form of misappropriation of the company’s funds (Miller & Jentz 2010).

2

In case of debts as well as liabilities in the business, the shareholders and also the LLC members are held liable.

3

I would choose S.Corp over LLC since it allows the business owners to pay themselves wages and any additional profit into the company. It also protects personal assets of the business from the creditors.

5

            A trade name refers to the name that a given business uses so as to carry out their business deals, for example Kodiak. A trade secret involves any proprietary information that the business uses so as to give them a competitive benefit over their competitors. Coca-cola Company is one of the businesses that have a unique formula in their business and this unique formula is a trade secret. Trade infringement is viewed as a violation of the private rights that are attached to trademark without the consent of the owner. For example the use of a similar registered trademark for the production of the same goods and services.

 

 

6

Professor Wise would not succeed in this case as he had on several cases used works through reproducing and distributing some parts of the book to the students. This work was protected by the copyright law and thus professor should not have used this work without the authors consent.

7

Pirates Joe case was a case of trademark violation. This is because there was a similarity of trademark as the goods were originally bought from trader Joe and sold at US as the same goods.

8

Protection of trade secret involves the identification of the trade secrets and all the top secret information; communicate with the employees in the business through  privacy and to make known to them that they are liable for any form of misappropriation of this secrecy (Buskop 2008).

9

Madeline was entitled to the ring as per the laws whether she had lost the ring; it still continues to be owned by the original owner.

 

15

The note is a negotiable instrument as it offers a series of the negotiation requirements.

References

Buskop, W. (2008). Patents, trademarks, copyrights, and trade secrets: What automation professionals, manufacturers, and business owners need to know. Research Triangle Park, NC: ISA-The Instrumentation, Systems, and Automation Society.

Miller, R. L. R., & Jentz, G. A. (2010). Fundamentals of business law: Excerpted cases. Mason, OH: South-Western Cengage Learning.