1. Is it possible for a firm to make a profit by engaging in false advertising? Explain your answer.

2. If you believe a competitor is engaging in false advertising that reduces your profit, what can you do?

3. You are a defendant in a lawsuit. You know you are innocent. Should you ever consider settling the suit? Why or why not?

4. Your company discovers a new way to make improved ceramic ball bearings. Discuss the pros and cons of patenting the procedure versus keeping it a trade secret.

5. You are currently studying to earn a degree. Explain how your degree can signal relevant hidden characteristics to potential employers?