Question

Question 11 (Mandatory) (1 point)

What are the basic rights that must attach to at least one class of shares of an incorporated company?

Question 11 options:

	Limited liability, transfer of shares, receipt of dividends
	Voting rights for public offering, transfer of shares, ability to collect dividends annually
	Voting rights for election of directors, receipt of dividends, and share in the proceeds upon dissolution of the corporation

Question 12 (Mandatory) (1 point)

Incorporation methods allow for the creation of a legal entity that is recognized as being

Question 12 options:

	a legal entity and is owned and managed by its shareholders.
	a legal person, is owned by shareholders who enjoy limited liability, and is managed by directors who have a fiduciary duty to the entity.
	ceither provincial and/or federally incorporated, operates as a limited liability corporation, and provides a limited liability umbrella for its shareholders.

Question 13 (Mandatory) (1 point)

One form of Alternative Dispute Resolution is known as Arbitration. This is a process where both sides come together before a neutral third party (arbitrator). The decision of the arbitrator is usually....

Question 13 options:

	legally binding
	binding or non-binding
	non-binding

Question 14 (Mandatory) (1 point)

The legal rights associated with ownership of property includes the following:

Question 14 options:

	The right of possession, use, and enjoyment; the right to lease or rent the property to other individuals or businesses; the right to use the property as security for a loan
	The right of possession, use, and enjoyment; the right to grant others the legal right to enter its property, the right to control the use of the property
	The right to exclude others from accessing or interfering with it; the right of possession, use, and enjoyment; and the right to transfer or dispose of property.

Question 15 (Mandatory) (1 point)

Which of the following items do not meet the definition of a patent?

Question 15 options:

	Chemical compounds, methods of cleaning, and microorganisms
	Scientific principles, abstract theorems, and natural phenomena
	Pay-per-use billing systems, application systems, chemical compounds

Answer 1

11.

C

Right to vote, right to get dividends and getting shares from the proceeds after the winding of the company are the basic rights.

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12.

C

These are the benefits go to the shareholders of the incorporated entity and these shareholders will have the limited liability.

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13.

A

The decision is legally binding. Though, it can be challenged in the court of law.

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14.

C

Right to exclude the others as a part of privacy is also come under the rights of the property owners.

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15.

B

These are the dimensions of any goods or activity, that is already declared and available in public space. So, it is not the part of patent.