legl 2700 exam 3

patents

inventions/processes; temporary

copyrights

creative expression

trademark

any type of image associated w a company designated by TM

trade secret

common way of asserting prop as profitable knowledge when kept private; can be infinite

what is IP covered in?

Article 1 Sect 8 of US Constitution

utility patent

useful,functional inventions

20 yrs

Design patent

appearance, non functional

15 yrs

plant patent

new variety of plant that can be reproduced asexually

infringement

civil violation of trademark

federal trademark dilution act

prohibits use of a mark the same or similar to another’s trademark to dilute its significance, reputation, or goodwill (blurring and tarnishment)

disillusion

change in ownership that changes business structure; new legal entity

sole proprietorship

owned and run by 1 person

general partnerships

agreement between 2+ ppl to share a common interest in a commercial endeavor

Corporations

artificial and intangible entity created under authority of states law (has stocks)

limited partnerships

limited partners are not responsible for debts of business org; can’t take part in any managerial stuff

S Corps

org treated like a partnership for tax reasons w structure of corporation

non profit corporation

for public purpose; doesn’t earn rprofit

limited liability company (LLC)

nontaxable; hard to pierce the veil of

limited liability partnership

characteristics of partnership; all have limited liability

administrative agencies

boards, bureaus, commissions, and orgs that make up gov bureaucracy

security

any interest or instrument that offers the right to subscribe or purchase stock, bond, or certificate of interest

securities exchange act of 1933

initial sale of a security

securities exchange act of 1934

transfers of securities after initial sale

prospectus

sets forth key info contained in companies registration statement

sect 11 of 33 act

half truths

sect 12 of 33 act

no registration statement/ false or misleading prospectus

sect 17 of 33 act

intentional deceit

SOX

ensure accuracy and integrity in the financials of firms

Dodd-Frank

aimed to avoid future taxpayer bailouts of big banks; bounty program

Al Minor and Associates v. Martin

ruled against Martin; memorized info can be basis of trade secret violation; employee “gained experience” doesn’t count

Association for Molecular Pathology v. Myriad Genetics

ruled against Myriad; said DNA in its natural form was not patentable; discover does not equal patentable

Alice Corp Pty Ltd v. CLD Bank Intl

ruled against Alice corp; adding tech language wasn’t enough to make a basic software concept not abstract

Matal v. Tam

ruled the disparaging act was unconstitutional b/c it engaged in viewpoint discrimination

Alli v. US

ruled that the court can pierce the corporate veil and strip liability protection to keep taxpayers from bailing ppl out

FCC v. AT&T

ruled corps do not have personal privacy rights; AT&T had to turn over private docs

Free Enterprise Fund v. Public Company Acct Oversight Board

ruled part of SOX did violate Const; did not kill SOX (severability)

Free Lucia v. SEC

ruled ALJs were officers of US and had to be appointed

SEC v. Jarkesy

when SEC seeks civil penalties against a def for security fraud the 7th Amend entitles def to a trial by jury in fed court

FDA v. Brown Williamson Tobacco Corp

ruled congress had opted to protect tobacco industry and FDA couldn’t regulate

Loper Bright v. Dept of Commerce

Overturned Chevron (no longer default to agency interpretations); courts have ultimate auth

SEC v. Howey Co

ruled florida oranges are a security and held Howie liable for money investors didn’t get

Salman v. US

ruled gifts of info even w/out financial return is violation of securities law