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Chapter 4 Slide Show 2

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Chapter 4 Slide Show 2

  1. 1. Chapter 4 Social Responsibility Slide Show 2 Sydney Marshall Block 3 -Patent is the exclusive right of an inventor to make, sell, and use a product or process. -It is important for a new product because it prevents other companies from making or selling the same product/process. -The ipod patent was established in
  2. 2. Copyright <ul><li>A copyright protects the creative work of authors, composers, and artists. Copyright protection lasts for the life of a person receiving the copyright and also extends for 50 years after the person’s death. </li></ul><ul><li>It is important for businesses so no other company or person can take or re – make their work. </li></ul>
  3. 3. Trademarks <ul><li>A trademark is a word, letter, or symbol linked with a specific company or product. Businesses register company names, team emblems, and label designs with the government. </li></ul><ul><li>Examples: </li></ul>
  4. 4. MoNoPoLy! <ul><li>A monopoly exists when a business has control of the market for a product or service. </li></ul><ul><li>It could be bad for business because if the same company owned all food stores in your city, consumers could get treated unfairly. </li></ul>
  5. 5. Tax Rates & Income <ul><li>A personal or individual income tax is levied on the total income of the individual (with some deductions permitted). It is often collected on a pay-as-you-earn basis, with small corrections made soon after the end of the tax year. These corrections take one of two forms: payments to the government, for taxpayers who have not paid enough during the tax year; and tax refunds from the government for those who have overpaid. Income tax systems will often have deductions available that lessen the total tax liability by reducing total taxable income. They may allow losses from one type of income to be counted against another. For example, a loss on the stock market may be deducted against taxes paid on wages. </li></ul>
  6. 6. PROPERTY TAX <ul><li>Property tax is a major source of revenue for governments, based on the value of land and buildings. </li></ul>
  7. 7. SALES TAX <ul><li>Sales tax is a state or local tax on goods and services that is collected by the seller. </li></ul>
  8. 8. GIFT TAX <ul><li>Gift tax is the tax on money are property that one living person gives to another. </li></ul>