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Avery Trendel
Block 3
A patent is something that gives the inventor of a product the sole right to make, use, or sell the item for 17 years.
Patent of a Basketball
A copyright protects the creative work of authors, composers, and artists.
A trademark is a word, letter, or symbol linked with a specific company or product.
Examples of trademarks are…McDonald’s golden archesNike SwooshThe Apple Logo
A monopoly exists when a business has control of the market for a product or service.
It is bad for business because the business could charge high prices for a low quality product
The NFL has a monopoly on American Football.
The US tax rate on personal income is somewhere between 15 and 25% for me, but it varies depending on people’s income.
This tax is based on the value of land and buildings.
Sales tax is a state or local tax on goods and services that is collected by the seller.
A gift tax is the tax on money or property that one living person gives to another
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