Question 1

A key issue is global patent protection for software.Although copyright law protects the computer code,it does not apply to the idea embodied in the software.

Accepted Answer

Copyright law does protect the computer code of the software, but patent protection is needed to protect the idea embodied in the software.

Question 2

A "civil-law country" is one in which the legal system reflects the structural concepts and principles of the Roman Empire in the sixth century.

Accepted Answer

Civil-law countries follow the legal tradition derived from the Roman Empire, which is different from the common-law tradition found in countries like the United Kingdom and the United States.

Question 3

If a foreign company is taken over by the host country government,and some form of compensation is paid,"confiscation" has occurred.

Accepted Answer

False

Question 4

Kleptocracy refers to rampant corruption and bribery.

Accepted Answer

Kleptocracy is a form of government characterized by corruption and theft. It refers to a system in which the ruling class exploits natural resources and public wealth for their own benefit, often through bribery and other illegal activities.

Question 5

The high level of political risk currently evident in Russia can be attributed in part to excessively low taxes on business operations.

Accepted Answer

The high level of political risk in Russia is attributed to a variety of factors such as corruption, economic sanctions, and geopolitical tensions, and is not solely caused by low business taxes.

Question 6

When many nations reach advanced stages of economic development,their governments declare that any practice or policy that restrains free trade is legal.

Accepted Answer

Governments typically declare practices or policies that restrain free trade as illegal, as they often aim to promote free trade to enhance economic growth and international cooperation.

Question 7

Flush with dollars from oil exports,the Russian government lifted all currency controls and made the ruble freely convertible in world markets.

Accepted Answer

The statement accurately describes Russia's economic policy in the 2000s when it had a favorable balance of trade due to high oil prices.

Question 8

A recent rash of antitrust actions brought in the United States against foreign companies has raised concerns that the United States is violating international law as well as the sovereignty of other nations.

Accepted Answer

The statement accurately describes the concern some have regarding the recent antitrust actions brought by the United States against foreign companies.

Question 9

If a foreign company is taken over by the host country government,and some form of compensation is paid,"expropriation" has occurred.

Accepted Answer

Expropriation refers to the act of taking over a foreign company by the host country government, and providing some form of compensation in return.

Question 10

Antitrust laws in the United States and other countries are designed to combat restrictive business practices and to discourage competition.

Accepted Answer

Antitrust laws are designed to combat restrictive business practices and to encourage competition, not discourage it.

Question 11

The requirement that all restaurants declare that the meat is "halal" is based on Islamic Laws.

Accepted Answer

The answer of The requirement that all restaurants declare that...

Question 12

Now that Latvia has joined the Euro zone it is expected that higher interest rates will promote further economic growth.

Accepted Answer

The statement is not necessarily true. While joining the Euro zone may bring benefits such as increased trade and stability, it does not necessarily lead to higher interest rates that promote economic growth. Interest rates are determined by the European Central Bank and may not always align with Latvia's economic needs. Additionally, other factors such as market conditions and government policies also affect economic growth.

Question 13

India,Pakistan,Malaysia,Korea,and Japan have common-law jurisdictions.

Accepted Answer

The countries mentioned have diverse legal systems, and only India has a common-law jurisdiction. Pakistan follows a mix of common law and Islamic law, Malaysia follows a mix of common law, Islamic law, and statutory law, while Korea and Japan follow civil law systems.

Question 14

Affluent Russians can now shop at Versace,Burberry,Bulgari,and other exclusive brands.

Accepted Answer

Yes, affluent Russians can now shop at Versace, Burberry, Bulgari, and other exclusive brands.

Question 15

Nippon Paper Industries was found guilty in a U.S.court of conspiring with other Japanese companies to raise fax paper prices in the United States.

Accepted Answer

In 1998, Nippon Paper Industries and seven other Japanese companies were found guilty in a U.S. court of conspiring to fix the prices of thermal fax paper in the United States.

Question 16

British Petroleum,British Airways,and Rolls-Royce were some of the companies that were privatized under so-called Thatcherite economics.

Accepted Answer

These companies were indeed privatized under the economic policies of Margaret Thatcher, commonly referred to as "Thatcherite economics".

Question 17

"Sharia" and "haram" are important concepts in civil-code laws,which are commonly practiced in Middle Eastern countries.

Accepted Answer

"Sharia" refers to Islamic law derived from the Quran and Hadith, guiding all aspects of Muslim life, including legal matters. "Haram" means forbidden by Islamic law. Civil-code laws are a system of laws adopted by a state or nation, which can be influenced by various legal traditions, including but not limited to Islamic law, depending on the country.

Question 18

A trademark gives the inventor of a product the exclusive legal right to make,use,and sell an invention for a specific period of time.

Accepted Answer

A trademark provides exclusive legal rights to use and protect a particular name, logo, or symbol associated with a product or service, but it does not provide the exclusive right to make, use, or sell an invention. This is the role of a patent.

Question 19

To establish ownership of a written,recorded,performed,or filmed creative work,it is necessary to apply for and be granted a patent.

Accepted Answer

To establish ownership of a written, recorded, performed, or filmed creative work, it is necessary to apply for and be granted a copyright, not a patent.

Question 20

A patent holder retains all rights for the life of the patent even if the product is not produced or sold.

Accepted Answer

A patent holder has exclusive rights to their invention for the duration of the patent's lifecycle, even if they choose not to produce or sell the product. These rights include the ability to prevent others from making, using, or selling the patented invention without their permission.

Quiz 5: The Political, Legal, and Regulatory Environments