1. CHAPTER OBJECTIVES © SOUTH-WESTERN EDUCATIONAL PUBLISHING LEGAL ASPECTS OF BUSINESS nExplain how federal laws help control and promote competition. nTell how patents, copyrights, and trademarks are beneficial to business. nOffer examples of how the government protects the public. nProvide three methods used by state and local governments to regulate business. nDiscuss the nature of taxes and the fairness of progressive, proportional, and regressive taxes. nIdentify and explain the most common types of taxes that affect business. 77

2. © SOUTH-WESTERN EDUCATIONAL PUBLISHING REGULATIONS MAINTAINING COMPETITION nControlling monopolies nPromoting fair competition nSherman Act nClayton Act nRobinson-Patman Act nWheeler-Lea Act nFederal Trade Commission nOther federal agencies nProviding Bankruptcy Relief

3. © SOUTH-WESTERN EDUCATIONAL PUBLISHING REGULATIONS PROTECTING BUSINESS AND THE PUBLIC nProtecting business nPatents nCopyrights nTrademarks

4. © SOUTH-WESTERN EDUCATIONAL PUBLISHING INTELLECTUAL PROPERTY PATENTS  Motors  Mousetraps  Games  Computers COPYRIGHTS  Software  Novels  Histories  Poetry  Textbooks TRADEMARKS  Names  Symbols

5. © SOUTH-WESTERN EDUCATIONAL PUBLISHING REGULATIONS PROTECTING BUSINESS AND THE PUBLIC nProtecting the public nFood and drugs nNon-food products nInformation

6. © SOUTH-WESTERN EDUCATIONAL PUBLISHING STATE AND LOCAL REGULATIONS nLicensing nPublic franchising nBuilding codes and zoning

7. © SOUTH-WESTERN EDUCATIONAL PUBLISHING BUSINESS TAXES nGeneral nature of taxes nReasons for taxes nFairness of taxation nProportional taxation nProgressive taxation nRegressive taxation nKinds of taxes nIncome tax nSales tax nProperty tax nEffect of taxes on business decisions