include different protection ti business

1. Business

3.  Ethical responsibility is the duty to follow a
morally correct path. In your personal life, you
might feel the greatest sense of ethical
responsibility to your family & friends. But small
business or competitor owners also have
responsibility to many people.
 Competitor are other businessman involved in
similar type of business. Existence of competition
helps the business in becoming more dynamic &
innovative so as to make itself better than its
competitor . It also sometimes encourage the
business to indulge in negative activities resorting
to unfair trade practices

4. Unfair trade practice
consists of using
various fraudulent or
unethical methods to
obtain business.
It include tied selling
false advertising,
misrepresentation and
other acts that are
declared unlawful by
law.

6. In anti trust law Monopoly
was Created for the
Purpose of eliminating
competition in an area of
business & controlling the
market fair competetion

8. Partner Fixing of Prices
 Fixing price of a product
rather than allow it to be
determined naturally by
free-market forces.
 Antitrust legislation
makes it illegal for business
to fix their prices.
 However there is no legal
protection against price
fixing.

9. Abuse of dominance. means
Abuse of a dominant
position occurs when a
dominant firm in a market,
or a dominant group of
firms, engages in conduct
that is intended to eliminate
a competitor or to deter
future entry by new
competitors, with the result
that competition is
prevented

10. Dominance

11. Oligopoly:
Agreements
between
competitors
wherein prices can
be set at highly
profitable levels &
restricts
competition

12. No competition It is basically a MONOPOLY
 No benefits to the
consumer
 No improved
product quality
 No better price
 No choice

13. Agreement

14. CARTELS
 A Cartel is a formal
(explicit) agreement among
competing firms to fix prices
for the goods they produce
 It is a formal organization of
producers that agree and to
abolish competition.
 It is a combination of
political groups for common
action

15. Divide up & Market
Sharing
Collective boycotts
Resale price maintenance
agreements

16. Conformity among
competitors to divide
sales territories or
allocate customers and
agreement no to
complete

17. Market share & division

18. Collective boycotts
A collective boycott occurs when a
group of competitors' agree not to
acquire goods & services from , or
not to supply goods & service to a
businessman with whom the group
is negotiating , unless the business
accepts the term & condition offered
by the group

19.  RPM is an agreement between
manufacturer & distributor on
the price at which a product
will be sold.
 RPM are illegal under the
Sherman act
 But it is not illegal for a firm
to supply a retailer who won’t
accept the manufacturer
guidance on what the price
should be

20.  A right that is held by a
person or by a company to
have its own plans, ideas, or
other intangible assets
without the worry of
competition, for a specific
period of time.
 The reasoning for intellectual
property is to encourage
innovation without the fear
that a competitor will steal
the idea

22.  A patent is an exclusive right
granted for an invention –
a product or process that provides
a new way of doing something,
or that offers a new technical
solution to a problem.
 A patent provides patent owners
with protection for their inventions.
Protection is granted for a limited
period, generally 20 years.

25. It is a legal right created by
the law of a country that
grant a creator of a original
work exclusive right for its
use and distribution. It is
for a limited time period.
This right is not absolute
but a major limitation is
that protect only the
original expression of idea ,
not the underlying ideas

26. A trademark is a distinctive sign
that identifies certain goods or
services produced or provided by
an individual or a company. It is
essential to obtain trademark
registration for the business
under the trademark Act .
Trademark such as COCA-
COLA , HP, Canon, Nike serve as
indication of origin of goods as
well as quality of goods.

27. COUNTER FEITING
-A criminal offense
of making an
imitation of an
article with intent
to defraud others
into accepting it
as a genuine item

28. Business Relationships
 Business people must be ethical
toward their competitor, customers,
suppliers, stakeholders , employee ,
employers and all the companies
with which a company is associated
2-28