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Global Trade Essay

582 words - 3 pages

Conrado V. Molina Jr. GLOBAL/INTERNATIONAL TRADE 7/10/12
OM09402
IP laws- This is the area of law that deals with and oversees the creation of intellectual property patents, copyrights, trademarks and trade secret laws; the protection of intellectual property rights; and the legal pursuit of those who infringe on another’s rights to his/her intellectual property. It overlaps with several other areas of law, such as patent law, copyright law, contract law, tort law, trademark law and litigation.
Trademark-A trademark is a brand name. A trademark or service mark includes any word, name, symbol, device, or any combination, used or intended to be used to identify and distinguish the goods/services of one seller or provider from those of others, and to indicate the source of the goods/services. Although federal registration of a mark is not mandatory, it has several advantages, ...view middle of the document...

Product Liability-is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. Although the word "product" has broad connotations, product liability as an area of law is traditionally limited to products in the form of tangible personal property.
Property Rights-Laws created by governments in regards to how individuals can control, benefit from and transfer property. Economic theory contends that government enforcement of strong property rights is a determinant regarding the level of economic success seen in the area. Individuals will create new forms of property to generate wealth, only when they are assured that their rights to their property will protect them against unjust and/or unlawful actions by other parties.
Intellectual Property- refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.
Patent-is a form of intellectual property. It consists of a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time in exchange for the public disclosure of an invention.
Product Safety-Standards relating to the design and manufacturing of consumer products to ensure they do not represent harm or hazards to consumers.
Contract Law-Body of law that governs oral and written agreements associated with exchange of goods and services, money, and properties. It includes topics such as the nature of contractual obligations, limitation of actions, freedom of contract, privity of contract, termination of contract, and covers also agency relationships, commercial paper, and contracts of employment.
Private Action- refers to theft, piracy, blackmail and the like by private individuals and groups
Public Action- violate property rights occurs when public officials such as politicians and government bureaucrats extort income, resources and the property itself from property holders

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