Question 1

A _______ is the exclusive legal right that authors, playwrights, publishers, artists, composers, performers, photographers, and other creators have to publish and disseminate their work as they see fit.

Accepted Answer

The answer of A _______ is the exclusive legal right...

Question 2

Scenario - Britton Manufacturing
Brittany and Brandi Britton recently took over the family business, Britton Manufacturing, after their father and company founder retired. The company manufactures the finest of bed linens and has grown to be recognized as sixth in the industry for sales. Britton Manufacturing's products have been produced and sold strictly within the continental United States until this point in time. Now, the new owners desire to change things and plan to begin exporting the company's products to England, France, Norway, Greece, Egypt, China, and Germany.
Both Brittany and Brandi have graduated college with degrees in business and are looking forward to putting their educations to good use in growing the company. They realize there is much to learn and are looking forward to the challenges facing their international endeavor. They have projected an increase in sales by 15 million dollars in the first year as well as employment opportunities for an additional 500 workers in the U.S.
-Britton Manufacturing faces many laws and regulations that will impact the company while it conducts business on foreign soil. Which one of the following is least likely to be of concern to Britton in the international marketplace?

Accepted Answer

U.S. Labor Laws are least likely to be of concern for Britton in the international marketplace. Labor laws vary from country to country, so Britton will need to research and understand the labor laws of each country they plan to export to in order to ensure compliance. However, U.S. labor laws will generally not apply to Britton's operations overseas.

Question 3

An alternative dispute resolution process whereby the parties designate a neutral private person or group of persons to hear and decide the case is referred to as _______.

Accepted Answer

The answer of An alternative dispute resolution process whereby the...

Question 4

Scenario - Britton Manufacturing
Brittany and Brandi Britton recently took over the family business, Britton Manufacturing, after their father and company founder retired. The company manufactures the finest of bed linens and has grown to be recognized as sixth in the industry for sales. Britton Manufacturing's products have been produced and sold strictly within the continental United States until this point in time. Now, the new owners desire to change things and plan to begin exporting the company's products to England, France, Norway, Greece, Egypt, China, and Germany.
Both Brittany and Brandi have graduated college with degrees in business and are looking forward to putting their educations to good use in growing the company. They realize there is much to learn and are looking forward to the challenges facing their international endeavor. They have projected an increase in sales by 15 million dollars in the first year as well as employment opportunities for an additional 500 workers in the U.S.
-One of the international markets in which Britton Manufacturing plans to sell its products is China. All but which one of the following identifies a significant challenge facing the company in this international marketplace?

Accepted Answer

The product laws of China being very similar to those found within the United States is not a significant challenge facing the company in the international marketplace. The other options, such as the fact that China is a communist country with a government that owns or controls most of the factors of production, present significant challenges that could impact the success of Britton Manufacturing's entry into the Chinese market.

Question 5

_________ is property that is the creative product of an individual's intellectual, rather than physical, activity.

Accepted Answer

The answer of _________ is property that is the creative...

Question 6

A ________ is a distinctive phrase, name, word, picture, symbol or design, or combination of these, that identifies a given business' service or product, and is owned by said business.

Accepted Answer

The answer of A ________ is a distinctive phrase, name,...

Question 7

Scenario - Britton Manufacturing
Brittany and Brandi Britton recently took over the family business, Britton Manufacturing, after their father and company founder retired. The company manufactures the finest of bed linens and has grown to be recognized as sixth in the industry for sales. Britton Manufacturing's products have been produced and sold strictly within the continental United States until this point in time. Now, the new owners desire to change things and plan to begin exporting the company's products to England, France, Norway, Greece, Egypt, China, and Germany.
Both Brittany and Brandi have graduated college with degrees in business and are looking forward to putting their educations to good use in growing the company. They realize there is much to learn and are looking forward to the challenges facing their international endeavor. They have projected an increase in sales by 15 million dollars in the first year as well as employment opportunities for an additional 500 workers in the U.S.
-Entering foreign marketplaces poses many challenges to companies like Britton Manufacturing. Which one of the following would Britton Manufacturing least expect to be a challenge in its international business expansion?

Accepted Answer

The scenario describes the Rochester Corporation as a multinational import-export firm with a lot of experience in dealing with foreign governments and nations. Therefore, the company would not least expect to face the economic downturn in the United States resulting in many experienced workers being unemployed or underemployed as it is a domestic issue and not directly related to international business expansion. The other options, such as the potential for the company's executives being kidnapped, constant fluctuation of foreign currencies, instability, and volatility of some foreign governments, and potential for terrorist activity within certain foreign nations, are all common challenges that companies face when expanding internationally.

Question 8

A __________ trademark is a trademark that has become so well known or colloquial that it describes a general class of product or service, rather than a specific product or service as intended by the trademark's owner.

Accepted Answer

The answer of A __________ trademark is a trademark that...

Question 9

Differentiate between contract law and tax law.

Accepted Answer

The answer of Differentiate between contract law and tax law....

Question 10

Differentiate between communism, capitalism, and socialism as economic ideologies affecting global businesses.

Accepted Answer

The answer of Differentiate between communism, capitalism, and socialism as...

Question 11

Explain the three primary kinds of legal systems.

Accepted Answer

The answer of Explain the three primary kinds of legal...

Question 12

Patents, trademarks, and copyrights are all examples of ________.

Accepted Answer

The answer of Patents, trademarks, and copyrights are all examples...

Question 13

Differentiate between public and private corruption and explain how they affect global businesses.

Accepted Answer

The answer of Differentiate between public and private corruption and...

Question 14

Differentiate between democracy and totalitarinism as political systems affecting global businesses.

Accepted Answer

The answer of Differentiate between democracy and totalitarinism as political...

Question 15

What are antitrust laws and how do these laws affect business at a global level?

Accepted Answer

The answer of What are antitrust laws and how do...

Question 16

Describe how patents, trademarks, and copyrights help protect intellectual properties in today;s global business.

Accepted Answer

The answer of Describe how patents, trademarks, and copyrights help...

Question 17

Describe the economic and political risks faced by companies doing business in global arena.

Accepted Answer

The answer of Describe the economic and political risks faced...

Question 18

A _______is the right granted to the inventor of a product or process that excludes others from selling, making or using the invention for a certain period of time.

Accepted Answer

The answer of A _______is the right granted to the...

Question 19

Scenario - The Rochester Corporation
The Rochester Corporation is a multinational import-export firm with headquarters in the New York, USA. It currently has thirteen offices located on foreign soil and plans to open seven more by the end of the year. Rochester is quite proud of the fact that it reached over four billion dollars in revenue last year. The officers of the corporation are expecting to net over six billion per year with the projected expansion.
The Rochester Corporation considers it is a veteran when it comes to dealing with foreign governments and nations. The company maintains strict guidelines for employees and will only hire those who have expatriate experience of at least three years. The owners of Rochester attribute the company's continued success to the experience and knowledge of its employees.
-If the Rochester Corporation experienced unresolved legal problems with one of its customers located in a foreign country, all of the following except which one would be a potential way to remedy the problem?

Accepted Answer

The options presented are all ways to potentially resolve legal problems with customers in foreign countries. However, the best option for a multinational corporation like the Rochester Corporation would be to utilize the political power of the U.S. government to obtain an executive order from the U.S. Attorney General's office. This option would likely involve diplomatic negotiations and could potentially lead to a resolution that is favorable to Rochester Corporation. As a last resort, litigation in a foreign court of law could also be pursued, but this option is typically costly and time-consuming.

Question 20

Scenario - The Rochester Corporation
The Rochester Corporation is a multinational import-export firm with headquarters in the New York, USA. It currently has thirteen offices located on foreign soil and plans to open seven more by the end of the year. Rochester is quite proud of the fact that it reached over four billion dollars in revenue last year. The officers of the corporation are expecting to net over six billion per year with the projected expansion.
The Rochester Corporation considers it is a veteran when it comes to dealing with foreign governments and nations. The company maintains strict guidelines for employees and will only hire those who have expatriate experience of at least three years. The owners of Rochester attribute the company's continued success to the experience and knowledge of its employees.
-In dealing with such a varied number of customers from virtually all major points in the world, the Rochester Corporation is subjected to many risks. Which one of the following would not be considered an economic risk Rochester potentially faces in its global dealings?

Accepted Answer

Government confiscation of company assets is a political risk, not an economic risk. The other options, such as restrictions on currency transfer or devaluation of foreign currency, directly impact the company's financial performance and are economic risks. The potential for hyper-inflation is also an economic risk as it can affect the value of the company's assets and the purchasing power of its customers.

Quiz 6: The Legal and Political Environment of Global Business