Social ResponsibilitySocial ResponsibilityChapter 4Chapter 4

Second slideshowSecond slideshow

By: Kelsey WinchesterBy: Kelsey Winchester

PatentPatent

• A Patent gives the inventor sole right to make, A Patent gives the inventor sole right to make, use, or sell the item for 17 years.use, or sell the item for 17 years.

• The IPod patent was established in 1979. The IPod patent was established in 1979.

CopyrightCopyright

• A copyright protects the creative work of A copyright protects the creative work of authors, composers, and artists. This is authors, composers, and artists. This is

important for businesses so no one can take important for businesses so no one can take credit for what they have done. credit for what they have done.

TrademarkTrademark

• A trademark is a word, letter, or symbol linked A trademark is a word, letter, or symbol linked with a specific company or productwith a specific company or product

• Examples-Examples-• Abercrombie and Fitch- mooseAbercrombie and Fitch- moose• American eagle- eagleAmerican eagle- eagle• AFLAC- a duck AFLAC- a duck

MonopolyMonopoly

• A Monopoly exists when a business has A Monopoly exists when a business has control of the market for a product or service. control of the market for a product or service. This is bad for business because that business This is bad for business because that business

would run all the other businesses out of would run all the other businesses out of business. A near monopoly today was Toll business. A near monopoly today was Toll

Road. Road.

US Tax RatesUS Tax Rates

• The US tax rates for personal income depends The US tax rates for personal income depends on how much you make. If you make between on how much you make. If you make between 0 to 8,000 its 10%, 8,000 to 32,000 its 15%, 0 to 8,000 its 10%, 8,000 to 32,000 its 15%, and so on.and so on.

Property TaxesProperty Taxes

• Property tax is based on the value of land and Property tax is based on the value of land and buildings and most property tax revenue is buildings and most property tax revenue is used to pay for schools and other local used to pay for schools and other local government services. Businesses also pay a government services. Businesses also pay a property tax. property tax.

Gift TaxGift Tax

• The tax on money or property that one living The tax on money or property that one living person gives to another. person gives to another.