Entrepreneurial Law: Contract, IP, Data Protection, and Tort Law

Comprehensive vocabulary flashcards covering the key concepts from Lectures 4 through 7 on Entrepreneurial Law, including Contract, IP, Data Protection, and Tort Law.

Patent Requirements

The requirements for patentability are: Novelty, Non-obviousness, Usefulness.

Novelty

An invention must be new, meaning it has not been publicly disclosed or known before the patent application date.

Non-obviousness

The invention must not be obvious to someone skilled in the relevant field, ensuring that the innovation is significant and inventive.

Usefulness

The invention must have a specific, substantial, and credible utility, meaning it must provide some identifiable benefit.

Freedom of Contract

A principle meaning parties are generally free to decide the terms of their agreement, although they are influenced by legal rules like mandatory vs. default rules.

Contracts (Shavell, 2003)

Mutually beneficial agreements between parties that help plan future events or behaviour, such as the future provision of goods and services or the reallocation of risks.

Counteroffer

A response that rejects the original offer and creates a new offer, meaning the original offer cannot be accepted later.

Capacity

The legal requirement that parties must be capable of understanding the nature and consequences of an agreement; minors, mentally incapacitated, or intoxicated individuals often have limited capacity.

Statute of Frauds

A legal rule requiring certain contracts, such as real estate sales or high-value goods, to be in writing to prevent false claims about oral agreements.

Plain Meaning Rule

An objective approach to contract interpretation where courts look at the ordinary and literal meaning of the words used if the wording is clear.

Parol Evidence Rule

An objective approach stating that when parties have a written contract, later oral statements or outside evidence usually cannot be used to change the meaning of the written document.

Contra Proferentem Rule

A rule stating that if a contract term is ambiguous or unclear, the ambiguity is interpreted against the party who drafted the contract.

Procedural Unfairness

Unfairness in the way a contract was formed, such as through the use of pressure, deception, or unclear terms.

Intellectual Property (IP)

Creations of the mind, such as inventions, artistic works, symbols, and designs, which give creators exclusive legal control over their use.

Copyright

An automatic right that protects the expression of literary and artistic ideas against copying or reproduction, but not the ideas, procedures, or methods themselves.

Moral Rights

Rights protecting the personal connection between the author and the work, including the paternity right and protection against derogatory treatment.

Patent

An exclusive right granted for an invention (product or process) providing a new technical solution, generally lasting for 20 years from the date of filing.

Patent Claims

The most important part of a patent application that defines the scope of legal protection, typically written as a single sentence.

Patent Opposition

A 9-month period after a European patent is granted during which third parties can challenge its validity before the European Patent Office (EPO).

Trademark

A sign capable of being represented in a register that is distinctive enough to distinguish the goods or services of one undertaking from those of others.

Dilution

The weakening of the distinctiveness of a famous trademark through use in unrelated markets.

Tarnishment

When a trademark becomes associated with inappropriate or low-quality products, damaging its brand image.

Design Protection

Legal protection for the visual appearance (shape, lines, colors) of a product that is new and has individual character.

12-month Grace Period

The period provided in design law after a design is first disclosed to the public during which protection can still be sought.

Personal Data

Any information relating to an identified or identifiable natural person, such as names, IP addresses, or student numbers.

Profiling

The automated processing of personal data to analyze or predict aspects such as a person's work performance, health, or location.

Consent (GDPR)

A legal basis for processing that must be freely given, specific, informed, and unambiguous, requiring an active step rather than silence or inaction.

Necessity

The principle that data processing must genuinely be needed to achieve a legitimate objective using the least intrusive option available.

Controller

The person or organization that determines the purposes and means of processing personal data.

Processor

A separate person or organization that processes personal data on behalf of the controller based on instructions.

Data Protection Officer (DPO)

An independent expert who monitors GDPR compliance; they cannot be individuals who determine the purposes and means of processing (e.g., CEOs or heads of IT).

Tort

A non-contractual legal wrong that causes injury or harm to another person's physical, financial, or reputational interests.

Factual Causation

The determination of a causal link between conduct and harm based on the 'but for' test.

Vicarious Liability

A rule where one person (typically an employer) is held legally responsible for the wrongful acts of another (an employee) during work-related activities.

Strict Liability

Legal responsibility that exists even without proving fault or negligence, commonly applied to keepers of animals or manufacturers of defective products.

Defective Product

A product that does not provide the level of safety that people may reasonably expect, assessed based on presentation and foreseeable use.

Intention to Create Legal Relations

A fundamental principle indicating that parties must intend their agreement to have legal consequences for it to be enforceable.

Consideration

A legal concept referring to something of value that is exchanged between parties when entering into a contract.

Void Contract

A contract that is not legally enforceable due to a lack of essential elements such as capacity, consideration, or legality.

Unilateral Contract

A contract where only one party makes a promise or offer that is binding upon them if the other party completes a specific act.

Breach of Contract

The failure of one party to fulfill their obligations under a contract without a valid legal excuse.

Damages

Monetary compensation awarded to a party in a legal dispute for losses incurred due to a breach of contract.

Specific Performance

A legal remedy that compels a party to execute a contract according to its terms, typically used when monetary damages are insufficient.

Non-disclosure Agreement (NDA)

A legally binding contract that prohibits one party from disclosing certain information to third parties.

Patent Requirements

The requirements for patentability are: Novelty, Non-obviousness, Usefulness.

Patent Requirements

The requirements for patentability are: Novelty, Non-obviousness, Usefulness.