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The Omnibus Trade and Competitiveness Act of 1988 Focuses on Assisting

question 25

True/False

The Omnibus Trade and Competitiveness Act of 1988 focuses on assisting businesses to be more competitive in world markets as well as on correcting perceived injustice in trade practices.


Definitions:

Federal Legislation

Laws passed by the federal government of a country, which apply to the entire nation and supersede local laws in areas of federal authority.

Restraint of Trade

A legal concept that seeks to enforce reasonable limitations on business practices to encourage competition and prevent monopolies.

Federal Trade Commission Act

A United States federal law established in 1914 to prevent unfair or deceptive business practices, including antitrust violations.

Lanham Act

A United States federal statute that governs trademarks, service marks, and unfair competition, providing guidelines for the registration and legal protection of brands.

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