A Sole Proprietorship Is a Business Form in Which

question 79

Multiple Choice

A sole proprietorship is a business form in which

• A) the owner is protected against failure of the firm to pay its debt.
• B) shareholders are the rightful owners of the company.
• C) a government-issued charter has established its legal existence.
• D) the owner enjoys unlimited liability and unlimited rights to all the profits.
• E) the owner is prohibited from selling shares of stock.

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Definitions:

Design Patents

Legal protections granted to inventors for the unique visual qualities of a manufactured item, distinct from utility patents which cover function.

14-Year Monopoly

A fixed period of exclusive rights granted, typically referring to patents or copyright terms.

Injunctive Relief

A court-ordered act or prohibition against a party in a dispute, aimed at preventing irreparable harm or maintaining the status quo until a final decision is made.

Lanham Act

The primary federal trademark statute in the United States that prohibits trademark infringement, trademark dilution, and false advertising.