1. Trademarks must (circle all that apply):

a. Be distinctive

b. Identify the source of the product

c. Describe the purpose of the product

d. Always apply across all possible fields of use

2. What types of intellectual property does each of the following protect?

Trademarks ____________________________________________________

Patents ________________________________________________________

Copyrights _____________________________________________________

3. For legal protection, the owner of a trade secret must derive commercial advantage from it being ____________________________________________, and the owner must take _________________________________________ steps to ________________________________________________________. (fill in the blanks).

4. For legal protection, a trade secret (circle which is correct):

a. must be unique and useful; or,

b. need not be either particularly unique or useful.

5. Which of the following are duties owed by an agent to a principal? Circle all that apply:

a. Duty to compensate;

b. Duty to account for funds and property;

c. Duty to exercise ordinary care and skill for the kind of work performed by the agent;

d. Duty to reimburse and indemnify.

6. Each correct answer to this question is worth point., total 2.0 points. What type(s) of intellectual property protection is described by each of the following? Use each type of intellectual property protection only once: trademarks, copyrights, patents and trade secrets. Fill in the blanks with the correct choice of one of the following as to as to length of protection: 10 years, 20 years, 70 years plus the life of the creator, forever. Use each only once.

a. Can last ______________________ and there is no registration process with the government: _________________________________________

b. Can last __________________ but must be registered and made public: _________________________________________________

c. In the US, does not have to registered with the government, but must be distinctive and if registered, initially lasts _______________________ and can be renewed indefinitely: _________________________________________

d. May be registered for enhanced protections and lasts for _________________________________________________, but cannot be extended: ________________________________________________

7. Environmental laws in the United States regulate (circle letters of all that apply):

a. Rain runoff from factory roofs and parking lots.

b. Fuels used to operate automobiles.

c. The sources of emissions from Canadian factories blown by prevailing winds into New England.

d. Disposal of small quantities of hazardous material by households.

e. The generation, treatment, storage and disposal of hazardous wastes.

8. You are the Secretary of Transportation for the State of Ohio. You wish to replace a bridge on a US Highway. How long should you expect to wait to a obtain clearance under your Environmental Impact Statement? _____________________________________________________________________________________________________________________________________________________________________________________________________________________

STATE THE CORRECT ENVIRONMENTAL STATUTE APPLICABLE TO THE ENVIRONMENTAL PROBLEM STATED IN THE FOLLOWING 4 QUESTIONS

9. Tracking hazardous waste from the place where it is created to the place where it can legally be treated: ______________________________________________________________________________________________________________________________________________

10. Cleaning up contaminated dump sites: ______________________________________________________________________________________________________________________________________________

11. Setting policy for the Environmental Protection Agency. ______________________________________________________________________________________________________________________________________________

12. Your company has generated waste. The regulations under which act will tell you whether your waste is deemed to be hazardous? ______________________________________________________________________________________________________________________________________________

13. True/False In order to be found guilty of a crime for knowingly violating an environmental law, you must have understood what provision of what law you were breaking.

14. True/False: An agency relationship is consensual.

15. You are a buyer of real property. Which type of deed would you prefer:

a. Quitclaim deed

b. Warranty deed

c. Special warranty deed

d. Security agreement.

16. Amy is an agent for Johnco, running a trade show booth at a remote location. Amy and Johnco have no written agreement. Out of her own funds, Amy pays $2,000 for trade show electricians to set up the computer system and TV screens at the booth. The electricians leave, and Amy realizes she forgot to have them wire the overhead lighting system, so she does it herself. She mistakenly connects the 110 line with the 220 line, trips the circuit breaker, and blows out the lights on the Johnco booth and the booths on either side of her. To have the electricians return to inspect the wiring, flip the circuit breaker, and to replace the bulbs for the three booths costs $900. Does Johnco owe Amy any money? Yes/No If so, how much? $__________________

17. Can a third party can hold agent liable upon a contract made for his/her undisclosed principal? Yes ____ NO ____

18. In the United States, the government can take your property under the power of _____________________ ____________________ only if the taking is for a _____________________________ purpose and the government follows ________________________________________________________________________ and pays you ____________________________________________________________.

19. What is the difference between express and implied authority? ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

20. True/False: For a third party to rely on apparent authority to bind a principal, the appearance of authority in the agent must be created by the principal.

21. What is complete ownership of property? _______________________________________________________________________________________________________________________________________________________________________________________________________________________

22. Hernando de Soto's study showed that in Peru it required how many separate bureaucratic steps for a person to acquire legal title to his/her personal residence: ______________ steps

23. Hernando de Soto concluded with respect to private property rights that (circle all that apply)

a. Private property is arguably the single most important institution of social and political integration.

b. Without a formal system of registering private property rights a society limits its own development and prevents its citizens from reaching their full potential.

c. Informal recognition of private property rights by a society is an adequate substitute for formal registration.

24. John hires Amy to drive a truck for his business. John expects Amy to drive carefully and checks to see that she has a good driving record. While Amy is driving the truck to make a delivery for the business, she accidentally hits another car, dents the fender and causes its driver to have whiplash. Is Amy John's agent? Yes ____ No ______ Could John be held responsible for the repairs to the fender and the medical costs to treat the whiplash? Yes ____ No ______ If yes, under what principle of the law: ________________________________________________________________________

25. In our legal system, rights to property can be divided (circle all that apply):

a. Among several people

b. Temporarily

c. Separating mineral rights

d. Separating water rights

26. What is the difference in a warranty deed and a quitclaim deed? ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

EXTRA CREDIT Point: Who warned that anarchy and tyranny start when law and public justice do not protect rights of property? ____________________________________________________________________________

EXTRA CREDIT 1/2 Point: Approximately how many Superfund sites are there in the United States? 390 ______ 3,900 ______ 39,000 _______ 390,000 _______