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KARNATAKA
STATE OPEN UNIVERSITY
MUKTHA
GANGOTHRI, MYSORE -570 006
DEPARTMENT
OF STUDIES AND RESEARCH IN MANAGEMENT
MBA
II-SEMESTER ASSIGNMENT CIRCULAR & QUESTIONS- 2021
Name:
Roll
No.
ASSIGNMENT
QUESTIONS
C-08 LEGAL
ASPECTS OF BUSINESS
1. What is
Partnership Firm? Discuss the different modes of Dissolution of Partnership
Firm
Answer: Persons
who have entered into partnership with one another to carry on a business are
individually called “Partners“; collectively called as a “Partnership Firm”;
and the name under which their business is carried on is called the “Firm Name”
A partnership
firm is not a separate legal entity distinct from its members. It is merely a
collective name given to the individuals composing it. Hence, unlike a company
which has a separate legal entity distinct from its members, a firm cannot
possess property or employ servants, neither it can be a debtor or a creditor.
It cannot sue or be sued by others.
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2. Define
Intellectual Property Rights. Examine the various forms of Intellectual
Property.
Answer: Intellectual property (IP) refers to creations of the mind,
such as inventions; literary and artistic works; designs; and symbols,
names and images used in commerce.
IP
is protected in law by, for example, patents, copyright and trademarks, which
enable people to earn recognition or financial benefit from what they invent or
create. By striking the right balance between the interests of innovators and
the wider public interest, the IP system aims to foster an environment in which
creativity and innovation can flourish.
Four
Types of IP
1.
Copyrights
2.
Patents
3.
Trademarks
4.
Trade Secrets
Type 1 – Copyrights
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