By: Krishna PolasaniPrinciples of Business
Social Responsibility
PatentA patent gives the inventor the sole right to
make, use, or sell items for 17 years,Patent is important because it would
prevent other people from making or selling recorders using this process.
The IPOD patent was established in 2001.
CopyrightA copyright protects the creative work of
authors, composers, and artists.Copyright is important because it preserves
the work of intelligent authors so they would not be copied.
TrademarkA trademark is a word, letter, or symbol
linked with a specific company or product.Examples: McDonalds sign, Cisco sign, and
Sony sign
MonopolyA monopoly exist when a business has
control of the market for a product or service.
It is bad because a business could charge high prices for a products or service.
Example: USPS, Bellsouth
U.S Tax Rates for Personal IncomeThe U.S Tax Rates for Personal Income is
17%
Property TaxA major source of revenue is for local
governments is the real estates property tax.
Sales TaxA sales tax is a state or local tax on goods
and services which is collected by the seller.
Gift TaxIT is when you give a gift and they tax you.
The maximum gift tax is $10,000.
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