Business Law: Property Ownership
Part 1 (10 points)
Provide answers to these questions:
a) What are the requirements for obtaining copyright in the United States? Of what value is it to file your copyright with the US Copyright office?
b) What are the requirements for obtaining a patent in the United States? What are the benefits to the patent holder for obtaining a patent? What are the possible negatives for a patent holder?
Part 2 (10 points):
Answer these questions:
a) Distinguish between joint tenancies and tenancies in common.
b) Explain how a tenancy by the entirety differs from a joint tenancy.
c) Describe the disadvantages of cooperative ownership.
d) Describe the two legal elements of condominium ownership.
e) Juan and Kimi are getting married in June. They want to purchase a home before they are married. What type of real property ownership would you suggest? What are the downsides of this form of ownership should they purchase the property and call off the wedding?
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