1. What is certificate of incorporation?

A certificate of incorporation is a legal document relating to the formation of a company or corporation. It is a license to form a corporation issued by state government.

2. What are unfair practices?

Any practice in business involving the general public or competing parties that is prohibited by statute and regulated by an appropriate government agency. Unfair business practices encompass fraud, misrepresentation and oppressive or unconscionable acts or practices by business, often against consumers and are prohibited by law in many countries.

3. Define global warming?

The gradual increase in the temperature of the earth's atmosphere, believed to be due to the greenhouse effect, caused by increased levels of carbon dioxide, chlorofluorocarbons, and other pollutants.

4. What is EMR under the patent law?

EMRs(Exclusive Marketing Right) are a creation of the Trade Related Aspects of Intellectual Property Rights (TRIPS) agreement. The TRIPS agreement was signed in 1994 under the Uruguay round of international trade negotiations that set up the World Trade Organisation (WTO). Indias domestic patent law, therefore, describes the exclusivity of the EMR as the exclusivity of the right to sell and distribute the substance or article concerned. Without the EMR holders authorisation, save as excepted by grant of a compulsory licence, no one else can sell or distribute the subject product.

5. What is IPO?
An initial public offering, or IPO, is the first sale of stock by a company to the public. A company can raise money by issuing either debt or equity. If the company has never issued equity to the public, it's known as an IPO. IPOs are often issued by smaller, younger companies seeking the capital to expand, but can also be done by large privately owned companies looking to become publicly traded.

6. Which articles in the constitution of India guarantees equality and the right to carry on business?
Right to equality is an important right provided for in Articles 14, 15, 16, 17 and 18 of the constitution. It is the principal foundation of all other rights and liberties, and guarantees the following: Equality before law: Article 14 of the constitution guarantees that all citizens shall be equally protected by the laws of the country. It means that the State cannot discriminate against a citizen on the basis of caste, creed, colour, sex, religion or place of birth.

Social equality and equal access to public areas: Article 15 of the constitution states that no person shall be discriminated on the basis of caste, colour, language etc. Every person shall have equal access to public places like public parks, museums, wells, bathing ghats and temples etc. Equality in matters of public employment: Article 16 of the constitution lays down that the State cannot discriminate against anyone in the matters of employment. All citizens can apply for government jobs. Abolition of untouchability: Article 17 of the constitution abolishes the practice of untouchability, provided penalties for preventing a person from entering a place of worship or from taking water from a tank or well. Abolition of Titles: Article 18 of the constitution prohibits the State from conferring any titles. Citizens of India cannot accept titles from a foreign State. Article 19 guarantees freedom to practice any profession or to carry on any occupation, trade or business on which the State may impose reasonable restrictions in the interest of the general public.

7. What do you mean by whistle blowing?

Whistle blowing is the disclosure to the public or to authorities, usually by an employee, of wrongdoing in a company or government department.

8. What is a district forum?

The C.P. Act, 1986 was enacted to better protect the right and interest of people who are consumers in one way or the other from the exploitation of trade and industries. Consumer disputes redressal agencies (popularly known as Consumer Forums or Consumer Courts) are set up under the Act at district, State and National level to provide simple and inexpensive quick redressal against consumer complaints. If the cost of goods or services and compensation asked for is up to 20 lakhs the case can be filed in the concerned Consumer District Forum.

9. What is an offer?
Offer and acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties. Agreement consists of an offer by an indication of one person (the "offeror") to another (the "offeree") of the offeror's willingness to enter into a contract on certain terms without further negotiations. A contract is said to come into existence when acceptance of an offer (agreement to the terms in it) has been communicated to the offeror by the offeree and there has been consideration bargained-for induced by promises or a promise and performance.

10. What is consideration in a contract?

Consideration is the concept of legal value in connection with contracts. It is anything of value promised to another when making a contract. It can take the form of money, physical objects, services, promised actions, abstinence from a future action, and much more.

11. What are intellectual properties?

Intellectual property (IP) is a term referring to a number of distinct types of creations of the mind for which a set of exclusive rights are recognizedand the corresponding fields of law. Under intellectual property law, owners are granted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs. Common types of intellectual property include copyrights, trademarks, patents, industrial design rights and trade secrets in some jurisdictions.

12. What is acceptance?

Once the presence of a valid offer has been acknowledged, the next stage in the formation of an agreement is to find an acceptance of that offer. The acceptance must be made while the offer is in force, i.e., still open. Section 2(b) defines acceptance as, When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted. A proposal, when accepted becomes a promise.

13. What are TRIMS?

The term "TRIMs" represents "trade-related investment measures". Governments impose these measures to either encourage or compel investment to achieve certain national priorities. Conditions that can affect trade are known as TRIMs. Governments establish TRIMs for foreign investors because governments want to ensure the positive impacts of foreign direct investment (FDI) on the FDI-receiving countries' employment and export performance. The domestic sectors can also be protected under TRIMs from the increasing competition after the injection of foreign investment.

14. State the objectives of Consumer Protection Act?

Consumer protection is essential for a healthy economy. We need Consumer Protection Act for the following:1. Physical protection of the consumer. 2. Protection against deceptive and unfair trade practices. 3. Protection against all types of pollution. 4. Protection against the abuse of monopoly position and/or restrictive trade practices. 5. Protection of enjoying the rights.

15. Define article of association.

The internal rule book that every incorporated organization must have and work by. It forms a part of the constitution of an organization. The articles of association are a contract between (1) the members (stockholders, subscribers) and the organization and (2) among the members themselves. It sets out the rights and duties of directors and stockholders individually and in meetings. Certain statutory clauses (such as those dealing with allotment, transfer, and forfeiture of shares)

must be included; the other clauses are chosen by the stockholders to make up the bylaws of the organization. A court, however, may declare a clause ultra vires if it is deemed unfair, unlawful, or unreasonable. A copy of the articles is lodged with the appropriate authority such as the registrar of companies. Articles are public documents and may be inspected by anyone (usually on payment of a fee) either at the premises of the organization and/or at the registrar's office. Lenders to the organization take special interest in its provisions that impose a ceiling on the borrowings beyond which the organization's management must get shareholders' approval before taking on more debt. The usual American term is articles of incorporation.

16. What is consumer protection?

Consumer protection laws designed to ensure fair trade competition and the free flow of truthful information in the marketplace. The laws are designed to prevent businesses that engage in fraud or specified unfair practices from gaining an advantage over competitors and may provide additional protection for the weak and those unable to take care of themselves. Consumer Protection laws are a form of government regulation which aim to protect the rights of consumers. For example, a government may require businesses to disclose detailed information about productsparticularly in areas where safety or public health is an issue, such as food. Consumer protection is linked to the idea of "consumer rights" (that consumers have various rights as consumers), and to the formation of consumer organizations which help consumers make better choices in the marketplace.

17. State the rule of caveat emptor

Caveat emptor is a Latin term meaning "let the buyer beware". This is a cardinal principle of the law relating to sale of goods, which states that it is for the buyer to satisfy himself/herself about the quality of the goods while entering into a deal with the seller. If the buyer buys the goods for the particular purpose, he/she must satisfy that they are fit for the purpose. It is not part of sellers duty to point out defects of the goods that he/she is offering for sale. Under the doctrine of coveat emptor, the buyer cannot recover from the seller for defects on the property that rendered it unfit for ordinary purposes. Thus, the buyer must take care of his/her own interest while purchasing goods.

18. What are cyber laws?

Cyber crimes can involve criminal activities that are traditional in nature, such as theft, fraud, forgery, defamation and mischief, all of which are subject to the Indian Penal Code. The abuse of computers has also given birth to a gamut of new age crimes that are addressed by the Information Technology Act, 2000. We can categorize Cyber crimes in two ways The Computer as a Target :-using a computer to attack other computers. e.g. Hacking, Virus/Worm attacks, DOS attack etc.

The computer as a weapon :-using a computer to commit real world crimes. e.g. Cyber Terrorism, IPR violations, Credit card frauds, EFT frauds, Pornography etc. Cyber Crime regulated by Cyber Laws or Internet Laws.

19. Define prospectus.

Legally mandated document published by every firm offering its securities to public for purchase. It must comply with strict legal requirements and is filed for approval with the country's securities inspectorate such as the Securities & Exchange Commission (SEC) of the US, or the Securities & Investment Board (SIB) of the UK. A prospectus must disclose essential information such as (1) firm's objectives, (2) primary business activity, (3) background and qualification of principal officers, (4) current financial position, (5) projected financial statements, (6) assumptions underlying the projections, (7) foreseeable risks to the firm, (8) offering price on the stock (shares), and (9) (in case of bonds and notes) how the interest and principal will be paid. Sometimes, a prospect is preceded by an offering circular (called a red herring) and/or a preliminary disclosure (called pathfinder), but they, although legitimate, are not legal documents.