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1.In 2016, Microsoft announced that it would buy LinkedIn for $26.2 billion, in an all cash deal, making it the 6th largest deal if its kind on record. This is an example of:

a.

a partnership

b.

an acquisition

c.

a licensing agreement

d.

a hostile takeover

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1.When two companies combine to form a new company it is called a(n):

a.

partnership

b.

acquisition

c.

franchise

d.

merger

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1.A ________ is owned by a single individual who is responsible for all decisions and liabilities.

a.

limited liability partnership

b.

S corporation

c.

sole proprietorship

d.

C corporation

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1.________ refers to the circumstance where a court orders a party to carry out their duties under the contract.

a.

Punitive damages

b.

Consequential damages

c.

General damages

d.

Specific performance

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1.Product liability claims are based on the following:

a.

manufacturing defects, design defects, and/or failure-to-warn defects

b.

business and consumer negligence

c.

Tort Law, Common Law, Federal Law

d.

local law, state law, federal law

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1.A ________ gives the owner the right to prevent others from using a company's product name or logo.

a.

registered material

b.

copyright

c.

trademark

d.

patent

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1.The body of law resulting from laws passed by legislature is ________

a.

Constitutional amendment

b.

Statutory law

c.

State law

d.

Federal law