Name Three Functions of a Purchasing Department: ________________________, ________________________, ________________________

question 86

Short Answer

Name three functions of a purchasing department: ________________________, ________________________, ________________________

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Definitions:

Inventor

An individual who creates something new, whether it is an idea for a product, a device, or a process.

Exclusive Right

A legal entitlement allowing an individual or entity to engage in a particular activity or use a particular property to the exclusion of all others.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing to be enforceable.

Trade Secret

Confidential business information that provides a competitive edge and is protected from disclosure.