Without the Permission of the Inventor, Cheatum Automobile Manufacturing Copied

question 71

Multiple Choice

Without the permission of the inventor, Cheatum Automobile Manufacturing copied the engine design of an innovative competitor. Cheatum is guilty of:

• A) corporate liability.
• B) trademark infringement.
• C) profit minimization.
• D) patent infringement.

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Definitions:

Income Statement

A financial statement that shows a company's revenues and expenses, leading to its net profit or loss over a specific period.

Net Operating Income

The total profit of a company after operating expenses have been subtracted from total revenue, but before deducting taxes and interest.

Traceable Fixed Expenses

Fixed costs that can be directly linked to a specific product, department, or segment of a business.

Variable Expenses

Costs that change in proportion to the activities or volume of a business.