Define a trade secret and briefly discuss a noncompetition agreement.
What will be an ideal response?
Trade secret means protection against others revealing or disclosing information that could be damaging to business. In certain instances, the entrepreneur may prefer to maintain an idea or process as confidential and to sell or license it as a trade secret. The trade secret will have a life as long as the idea or process remains a secret.
Noncompete agreements are documents that are prepared by an employer and signed by an employee in order for the company to protect valuable assets ranging from product information, to marketing ideas, and unique strategies. Historically, noncompete agreements have not been very successful in courts. Well-written agreements will hold up in court if they are fair to all parties and have a reasonable duration and geographic coverage.
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You are looking to advertise your new product, and you want good mass-marketing coverage and low cost per exposure. You should go with ________ as your advertising medium
A) radio B) place-based media C) branded entertainment D) advergaming E) television
TriColor purchased an industrial stamping machine from Vicy, Inc TriColor paid for the machine with a negotiable note. The note was payable to the order of Vicy, Inc Vicy, Inc indorsed the note and gave it to CCLoans to satisfy a debt. CCLoans knew
nothing about the contract between TriColor and Vicy, Inc CCLoans indorsed the note and gave it to Great River Youth Club as a charitable donation. When Great River Youth Club presented the note for payment on its due date, TriColor refused to pay, claiming that the stamping machine was defective. (A) Is Great River Youth Club a holder in due course? (B) Will TriColor be able to avoid liability to Great River Youth Club on the basis that the machine was defective?
At the beginning of Year 2, the accounting records of Grace Company included the accounts and balances shown on the first row of the table below. During Year 2, the following transactions occurred:1. Received $95,000 cash for providing services to customers2. Paid salaries expense, $50,0003. Purchased land for $12,000 cash4. Paid $4,000 on note payable5. Paid operating expenses, $22,0006. Paid cash dividend, $2,500Required:a) Record the transactions in the appropriate accounts. Record the amounts of revenue, expense, and dividends in the retained earnings column. Enter 0 for items not affected. Provide appropriate titles for these accounts in the last column of the table. (The effects of the first event are shown below.)
alt="" style="vertical-align: 0.0px;" height="220" width="582" />b) What is the amount of total assets as of December 31, Year 2?c) What is the amount of total stockholders' equity as of December 31, Year 2? What will be an ideal response?
Livia takes temporary family leave from her job at Meatpackers Corporation to care for a new baby. On Livia's return from the leave, Meatpackers must?
A) restore Livia to her same position or a comparable position B) reimburse Livia for her expenses while on leave.? C) promote Livia to the status of a key employee. D) do nothing.