A policy of noninterference by the government in
economic matters.
A federal statute enacted in 1959, also known as the
Labor-Management Reporting and Disclosure Act. It sought to curb union
corruption by, among other things, providing standards for union democracy and
regulating the uses of union funds.
Legislation enacted by Congress in 1946 regulating
the uses of trademarks. Section 43(a) makes it illegal to falsely describe or
represent goods or services entering interstate commerce.
A school of legal thought that seeks to explain how judicial
systems really work. Legal realists believe that legal outcomes are influenced
by the values and attitudes of judges, lawyers, and juries.
A device that enabled Congress to prohibit proposed
actions by administrative agencies before they were to take effect. The
legislative veto was declared unconstitutional by the U. S. Supreme Court in
1983.
A procedure that may be used by a company attempting
to resist a take over attempt. The company borrows money against its assets and
gives the money to its shareholders.
A defamatory written communication published with the
intention of harming someone's reputation.
The belief that liberty in the marketplace is a
natural extension of political liberty, and that the citizens of a democracy
ought to be able to conduct business as they please. One of the competing
economic beliefs during the late 19th and early 20th centuries.
An agreement involving a transfer of technology from
one party to another for a specified length of time in exchange for a fee or
royalty payment.
A partnership that includes at least one general
partner, who is responsible for managing and controlling the business, and one
or more limited partners, who have invested in the business but have no right
of management or control. A limited partner's liability for the partnership's
debts cannot exceed the value of his or her investment.
A product warranty under which the manufacturer
limits its obligations to the buyer.
The conversion of assets into cash.
An amount of damages that may be specified in a
contract as recoverable by a party in case the other party breaches the
contract.
A chapter of a labor union.
An action in which an employer resists a union's
demands by withholding employment; for example, by shutting down a plant or
laying off union workers and bringing in replacements.
A state law giving courts within the state
jurisdiction over certain defendants located outside the state. In general,
such laws give courts jurisdiction over nonresident defendants who have some
minimum contacts with the state, such as transacting business or committing a
tort within the state.
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