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International Marketing Study Set 8

Business

Quiz 7 :

The International Legal Environment: Playing by the Rules

Quiz 7 :

The International Legal Environment: Playing by the Rules

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Steps are being taken in common-law countries to codify commercial law, even though the primary basis of commercial law is common law.
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True False
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Answer:

True

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The General Agreement on Tariffs and Trade is the most comprehensive multilateral agreement on intellectual property to date.
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True False
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Answer:

False

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In many code-law countries, ownership of intellectual property rights is established by registration rather than by prior use.
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True False
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Answer:

True

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A certain level of piracy may be beneficial for some companies as it provides an unplanned product trial.
True False
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Disputes relating to commercial transactions must be settled in courts and cannot be settled informally.
True False
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The form of law found in Germany, France, and Japan is called civil or code law.
True False
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Legal ownership in one country does not necessarily mean ownership in other countries.
True False
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The ownership of intellectual property rights in United States is established by prior use rather than registration.
True False
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Code law prohibits the receipt and payment of interest on loans.
True False
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In Marxist-socialist societies, law is strictly subordinate to prevailing economic conditions.
True False
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Common law prescribes specific patterns of social and economic behavior for everyone.
True False
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Code law is based on an all-inclusive system of written rules of law.
True False
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The World Court can settle disputes between a company and a government.
True False
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The sole requirement of an arbitration clause is that the parties agree to abide by the awards resulting from the process of arbitration.
True False
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If conciliation is not used to settle a difference in an international business dispute or an agreement cannot be reached, the next step is litigation.
True False
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In the United States, a patent reverts to public domain if it is not manufactured and sold within a specified period.
True False
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The form of law found in the United States and England is classified as civil or code law.
True False
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When dealing with foreign countries, a marketer should refer to the laws of the home country for guidance.
True False
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One of the deterrents to litigation with respect to disputes in the international business arena is the fear of creating a poor image and damaging public relations.
True False
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Statements made during conciliation may not be disclosed in subsequent litigation.
True False
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