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Business Chap. 11
Vocabulary words from Chap. 11
10
Other
Not Applicable
11/21/2005

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Term
Antitrust laws
Definition
Laws designed to promote competition and fairness to prevent monopolies.
Term
Contract
Definition
An agreement to exchange goods or services for something of value.
Term
Copyright
Definition
Protection of the work of authors, composers, and artists.
Term
Interstate commerce
Definition
Business transactions involving companies in more than one state.
Term
Intrastate commerce
Definition
Business transactions involving companies that do business only in one state.
Term
Monopoly
Definition
A business that has complete control of the market for a product or service.
Term
Patent
Definition
The exclusive right given to a person to make, use, or sell an invention for a period of 17 years.
Term
Public utility
Definition
A business that supplies a service or product vital to all people; the price charged for the service (or product) is determined by government regulation rather than by competition.
Term
Revenue
Definition
Business or government income.
Term
Trademark
Definition
A word, letter, or symbol associated with a specific product or company.
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