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Chapter 4 Part 2

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Chapter 4 Part 2

  1. 1. Jordan May Block 3
  2. 2. <ul><li>A patent for an invention is the grant of a property right to the inventor, issued by the United States Patent and Trademark Office. Generally, the term of a new patent is 20 years from the date on which the application for the patent was filed in the United States or, in special cases, from the date an earlier related application was filed, subject to the payment of maintenance fees. </li></ul><ul><li>The iPod was patented in 2001 </li></ul>
  3. 4. <ul><li>A trademark is a word, phrase, symbol or design, or a combination of words, phrases, symbols or designs, that identifies and distinguishes the source of the goods of one party from those of others. </li></ul>
  4. 5. <ul><li>a monopoly exists when a specific individual or enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it </li></ul><ul><li>Monopolies are bad for businesses because the company with the monopoly can charge whatever they want </li></ul><ul><li>An example of a near monopoly is cable </li></ul>
  5. 7. <ul><li>A tax that an owner is required to pay on the value of the property being taxed. </li></ul>
  6. 8. <ul><li>A sales tax is a consumption tax charged at the point of purchase for certain goods and services. The tax is usually set as a percentage by the government charging the tax </li></ul>
  7. 9. <ul><li>a tax imposed on the transfer of money or property from one living person to another by gift, payable by the donor. </li></ul>

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