Business law exam 3, set 2

Intellectual properties
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Terms in this set (15)
Intellectual properties
creations from somebody's mind as if it were tangible
1) trademarks
2) tradenames
3) patents
4) copyrights
5) trade secrets
Trademarks
design, logo, mark, picture, or word that is readily indentifiable in the marketplace. If you see the "golden arches" you think McDonalds
Tradenames
name that has over the years lost it's original meaning and taken on a generic meaning "googling" "kleenex" "chapstick"
Patents
government license that is granted to an inventor that gives that inventor the exclusive right to manufacture, use, sell, and invention for a period of 20 years. creates a monopoly.
- Has to be patentable
- Has to be a real thing not a concept
- Has to be new
- Can not be obvious in light of current technology
copyrights
Give the author of a certain work such as movies, books, etc the right to print, reprint, copy, publish and sell that work for a period of the life of the author + 70 years.
- Have to pay record label royalties (or the artist)
- Fair use doctrine:exception to the copyright laws. If you comment and critique, use for science or research that's okay as long as you don't financially harm the author.
Trade secrets
formulas, process, methods that are used in the production of goods or databases
- hacking is most common
Negligence
someone does something that a reasonable person would not have been under the same circumstance, or fails to do something a reasonable person would have done
Commission
did something no one would do.
Omission
failed to do something a reasonable person would do
- failed to stop, failed to look out
Elements of negligence
1) defendant owed to plaintiff
- all owe a duty of "reasonable or ordinary care" to each other (an invitee) to see that we do not damage another person or his property.
2) A breached duty
3) Breach was a cause of damage
2 types of cause1) Cause in fact - The DIRECT cause; running the red light and hitting someone 2) Proximate cause - Swerving to protect yourself from the person in the street and hitting a 3rd party. - Must be foreseeable as a causePalsgraf v Long Island RRWas this proximate cause? No, the fireworks were not foreseeable. causation MUST CONTINUE FROM NEGLIGENCE TO INJURY.Intervening (Superseding)Anything that interrupts the continuance from negligence to injuryStrict liabilityIn some cases, people who engage in activities that are inherently dangerous can be held liable if someone is injured as a result of those actions. - even if you didn't fail to do what a reasonable person would do.Defenses to negligence1) contributory 2) comparative 3) assumed risk - if you have been warned or have knowledge of the danger involved with a certain situation and you assume the risk involved, that's a defense. 4) last clear chance - if someone has a clear chance to avoid injury they have to take it.