Chapter 4 Social Chapter 4 Social Responsibility Responsibility Slide Show 2 Slide Show 2 Sydney Marshall Block 3 -Patent is the exclusive right of an inventor to make, sell, and use a product or process. -It is important for a new product because it prevents other companies from making or selling the same product/process. -The ipod patent was established in
Chapter 4 Slide Show 2
Dec 01, 2014
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Chapter 4 Social ResponsibilityChapter 4 Social ResponsibilitySlide Show 2 Slide Show 2 Sydney Marshall Block 3
-Patent is the exclusive right of an inventor to make, sell, and use a product or process.
-It is important for a new product because it prevents other companies from making or selling the same product/process.
-The ipod patent was established in
CopyrightCopyrightA copyright protects the creative
work of authors, composers, and artists. Copyright protection lasts for the life of a person receiving the copyright and also extends for 50 years after the person’s death.
It is important for businesses so no other company or person can take or re – make their work.
TrademarksTrademarksA trademark is a word, letter, or
symbol linked with a specific company or product. Businesses register company names, team emblems, and label designs with the government.
Examples:
MoNoPoLy!MoNoPoLy!A monopoly exists when a
business has control of the market for a product or service.
It could be bad for business because if the same company owned all food stores in your city, consumers could get treated unfairly.
Tax Rates & Income Tax Rates & Income A personal or individual income tax is
levied on the total income of the individual (with some deductions permitted). It is often collected on a pay-as-you-earn basis, with small corrections made soon after the end of the tax year. These corrections take one of two forms: payments to the government, for taxpayers who have not paid enough during the tax year; and tax refunds from the government for those who have overpaid. Income tax systems will often have deductions available that lessen the total tax liability by reducing total taxable income. They may allow losses from one type of income to be counted against another. For example, a loss on the stock market may be deducted against taxes paid on wages.
PROPERTY TAXPROPERTY TAXProperty tax is a major source of
revenue for governments, based on the value of land and buildings.
SALES TAX SALES TAX Sales tax is a state or local tax on
goods and services that is collected by the seller.
GIFT TAXGIFT TAXGift tax is the tax on money are
property that one living person gives to another.
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