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SEM2 1.02 Acquire knowledge of commerce laws and regulations to continue business operations.

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Presentation on theme: "SEM2 1.02 Acquire knowledge of commerce laws and regulations to continue business operations."— Presentation transcript:

1 SEM Acquire knowledge of commerce laws and regulations to continue business operations

2 Define Terms Trademark infringement is a violation of the exclusive rights attaching to a trademark without the authorization of the trademark owner or any licensees. Trademark infringement is a violation of the exclusive rights attaching to a trademark without the authorization of the trademark owner or any licensees. Ex. When one party, the “infringer”, uses a trademark which is identical or confusingly similar to a trademark owned by another party.

3 Define Terms Injunction, is an equitable remedy in the form of a court order that requires a party to do or refrain from doing specific acts. Injunction, is an equitable remedy in the form of a court order that requires a party to do or refrain from doing specific acts. Identity Misappropriation is an unauthorized use of another’s name, likeness, or identity without that person’s permission, resulting in harm to that person. Identity Misappropriation is an unauthorized use of another’s name, likeness, or identity without that person’s permission, resulting in harm to that person.

4 Define Terms Ticket scalping-is the act of reselling tickets for admission to events. Ticket scalping-is the act of reselling tickets for admission to events. Option to Renew-provision in a contract under which the team owner or the athlete has the choice of reinstating the concluded-contract for another term. Option to Renew-provision in a contract under which the team owner or the athlete has the choice of reinstating the concluded-contract for another term.

5 Define Terms Right of First Refusal-is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party. Right of First Refusal-is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party.


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