The Lanham Act (1946)

question 176

Multiple Choice

The Lanham Act (1946)

• A)prevents someone from using a trademark on a noncompeting product.
• B)protects the consumer from product defects.
• C)provides for registration of a company's trademarks.
• D)allows a company to secure rights to a name before its actual use.
• E)facilitates the protection of U.S. trademark rights throughout the world.

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Definitions:

Operating Profit

Earnings derived from a corporation's principal operations, before subtracting interest and taxes.

Cash Discount Rate

A reduction on the invoice price offered by sellers to encourage prompt payment from the buyer.

Invoice

A detailed bill provided by a seller to a buyer, listing the products or services sold and the total amount due.

Outstanding Invoices

Unpaid invoices that represent the amount due from buyers to sellers, not yet collected.