1.An example of a uniform model code widely adopted by states in the United States is Article 2 (Sales) of the Uniform Commercial Code (UCC), which relates to the sale of goods. T/F

2.There is no consensus on the definition of CSR, but it encompasses not only what companies do with their profits but also how they make them in virtually every respect of their operations. T/F

3.A fundamental benefit of a partnership structure is that the entity pays no federal income taxes at the partnership level and files only an informational tax return with the IRS allocating partnership income and loss to the partners. T/F

4.Which one of the following would not constitute a potential breach of a partners duty of loyalty?

self-dealing

usurping partnership business opportunities

negligence in partnership business management

engaging in conflicts of interest with the partnership

5.The key actions of a corporate board of directors generally are authorized by written resolutions or consents. T/F

6.State and federal regulatory agencies have declared that the misclassification of workers as independent contractors rather than employees:

benefits the public by providing flexible work opportunities and low-cost labor to gig employers

deprives federal and state governments of billions of dollars in tax revenue and deprives millions of workers of the labor law protections to which they are entitled

7.U.S. patent rights are intended to provide incentives for investment in development of innovative technology and designs. T/F

8.Copyright registration helps resolve disputes over the date of creation and authorship of protected works and is required for the grant of copyright under U.S. law. T/F

9.The value of a patent comes from the grant of the exclusive right to make or use the invention. T/F

10.Other countries and international IP organizations like the European Patent Office provide opportunity for patent rights for use in foreign markets. T/F