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Exam (elaborations)

LES 305 FINAL QUESTIONS AND VERIFIED ANSWERS

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LES 305 FINAL QUESTIONS AND VERIFIED ANSWERS

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A corporation owned by shareholders outside the officers and employees of the firm


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Publicly Held Corporations




Individuals who sign the incorporation papers for a newly formed corporation


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Incorporators




Partner in limited partnership who has no personal liability and can only lose
investment in the partnership; must be formed according to statutory requirements;

,cannot participate in the fim's management


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Limited Partner




The overall look, feel, color, and decorative design of a business


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Trade Dress




Method of business ownership in which one person owns business, receives all
profits, and is personally liable for all debts


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Sole Proprietorship




A business propositon or investment opportunity that a corporation would have an
interest in pursuing; recludes directors from taking a profit opportunity when the
corporation would have an interest.


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Corporate Opportunity Doctrine

, Federal law that permits trademark owners to file lawsuits to prevent others from
impairing the mark's distinctiveness


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Federal Trademark Dilution Act




Federal law prohibiting bribes in foreign countries and requiring the maintenance of
internal controls on accounting for firms registered under the Securities Exchange Act
of 1934


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Foreign Corrupt Practices Act (FCPA)




A takeover of one firm by another firm when the target firm solicits or agrees to the
takeover


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Takeover




Profits made by corporate insiders during a period of less than six months between
purchase and sale


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