What Is Intellectual Property (IP)

question 16

Multiple Choice

What is intellectual property (IP) ?

• A)Proprietary knowledge created through mind and intellect that is a valuable asset to the business
• B)Stealing ideas for the business
• C)Knowledge,skills and attitudes only business employees have
• D)Using four intellectual thoughts in the business

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Definitions:

Limited Liability

A legal structure where a person's financial responsibility is limited to a fixed amount, usually the value of their investment in a corporation or partnership.

State Law

Legislation that is enacted by the legislative body of any state and applicable within that particular state's jurisdiction.

Foreign Corporation

A company that is registered and operates in a different country from where it was originally incorporated.

Intrastate Business

Business operations that occur solely within one state’s borders, not involving or affecting trade between states.