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Unit 4 Individual Project
Legal and Ethical Environment of Business
BUSN150-1004B-138
Question (1) Before the UCC and the UCITA what was one of the first, and most significant, of the U.S. government’s attempts to promote uniformity in commercial laws from state to state? The commerce clause found on article 1 section 8 of the U.S. constitution.
Question (2) Based on the information above what do you see as the major differences between Article 2 of the Uniform Commercial Code and UCITA? The UCC is involved with the selling of products and the UCITA is involved with licensing products. The UCC has a clearer and consistent rule of governing transactions and the UCITA is lacking in the clear and consistent rules of governing transactions in this part of our growing economy.
Question (3) What is the legal distinction between selling a product and licensing it? There is not much difference unless you sell the rights to a product. By selling the rights to a product you are transferring it to another party without much limitation. Licensing a product is almost like selling the rights to it except you retain certain rights (usually spelled out in a contract). Selling a product transfers full rights of use to the consumer for whatever purpose intended.
Question (4) Many of the provisions of the UCITA were first proposed as a modification to article 2 of the UCC. Why do you think the drafters decided to propose it as a separate and distinct uniform act? The amount of expansion in the economy of these types of transactions made this act complicated and controversial. The UCITA has many provisions that need to be met, therefore, making it more productive as an act all its own.
“RESOURCES”
CREDO REFERENCE: Merriam Webster’s Dictionary of Law (1996)
AIU Library
Course Material: Unit 4; International Operations and Legal Issues
Course Material: Unit 4; International Business Ethics Issues
Legal and Ethical Environment of Business
BUSN150-1004B-138
Question (1) Before the UCC and the UCITA what was one of the first, and most significant, of the U.S. government’s attempts to promote uniformity in commercial laws from state to state? The commerce clause found on article 1 section 8 of the U.S. constitution.
Question (2) Based on the information above what do you see as the major differences between Article 2 of the Uniform Commercial Code and UCITA? The UCC is involved with the selling of products and the UCITA is involved with licensing products. The UCC has a clearer and consistent rule of governing transactions and the UCITA is lacking in the clear and consistent rules of governing transactions in this part of our growing economy.
Question (3) What is the legal distinction between selling a product and licensing it? There is not much difference unless you sell the rights to a product. By selling the rights to a product you are transferring it to another party without much limitation. Licensing a product is almost like selling the rights to it except you retain certain rights (usually spelled out in a contract). Selling a product transfers full rights of use to the consumer for whatever purpose intended.
Question (4) Many of the provisions of the UCITA were first proposed as a modification to article 2 of the UCC. Why do you think the drafters decided to propose it as a separate and distinct uniform act? The amount of expansion in the economy of these types of transactions made this act complicated and controversial. The UCITA has many provisions that need to be met, therefore, making it more productive as an act all its own.
“RESOURCES”
CREDO REFERENCE: Merriam Webster’s Dictionary of Law (1996)
AIU Library
Course Material: Unit 4; International Operations and Legal Issues
Course Material: Unit 4; International Business Ethics Issues