Felony Vs Misdemeanor

1) What is the difference between a felony and a misdemeanor?

There are several key differences between a felony and a misdemeanor. The most notable of these differences is that a felony is a crime that can be punishable by life in prison or death. A felony offense will also bar any individual from holding a security clearance. A misdemeanor, on the other hand, is a less serious crime that is typically associated with paying a fine or spending less than a year in jail.

2) Describe tort law and the types of damages in a tort lawsuit. Provide two examples of tort damages in the business environment.

Tort law is defined in the textbook as “providing remedies for the invasion of various protected interests” (Miller, 2016) Tort damages are typically in the form of compensatory actions such as replacing or repairing an item that the defendant was found of guilty of breaking. The other type of tort damages is punitive in nature, such as a defendant being found guilty of robbing a retail store.

3) Describe Wrongful Interference with a Business Relationship. Provide the Pros and Cons Dependencies of That Business Relationship.

Wrongful Interference in a business relationship can also be known as business torts.

This could include luring clients or potential customers to your business while directly interfering with a competing business to do the same. Some of the pros associated with this type of business relationship include lowering prices, making your business more appealing to potential clients or customers, and having a higher competitive advantage. Some cons associated with this business model include the potential to harm both yourself along with your competitor, a weaker business relationship, and wrongfully stating false information about your

competitor.
4) Intellectual property must be protected at all times. Describe the three types of intellectual property: trademarks, copyrights, and patents. Where would you look for filing and information on intellectual property rights for your company in the United States?
The three types of intellectual properties are trademarks, copyrights, and patents. A trademark is symbol or logo which a business uses to represent its company to the outside world. In our textbook, copyrights are defined as “intangible property right granted by federal statue to the author or originator of certain literary or artistic productions” (Miller, 2016). Patents are licenses granted by the government which give the exclusive rights of a product to its inventor for a period of twenty years. In the United States, you have the option of either initiating the patent process online, where information can be found also, or by going to the patent office located in Washington D.C.