Money Matters

4-2

Government Protection Activities

Goals:

  • Identify the roles and levels of government
  • explain government protection services
  • describe types of intellectual property

Key Terms:

  • contract
  • patent
  • copyright
  • trademark

4-2 Government Protection Activities

  • Government in Society – governments play a role in all economic systems. As a citizen and a voter you play a role in the decisions and actions taken by your government. Government’s role is much less extensive in a private enterprise system than it is in other country’s economic systems. The role of government in the economy often changes as newly elected officials take office.
  • Roles of Government –change as issues facing society change. Each of these roles has either a direct or an indirect impact on business expansion, consumer affairs, and economic growth in the economy.
  • Providing services for members of society
  • Protecting citizens, consumers, businesses and workers
  • Regulating utilities and promoting competition
  • Providing information and support to businesses
  • Buying goods and services
  • Hiring public employees
  • Raising revenue
  • Levels of Government- the main goal of the federal government is to oversee the activities that involve two or more states or other countries. The power to regulate foreign and interstate commerce is granted in the U.S. Constitution.
  • Interstate commerce – business dealings involving companies in more than one state. Ex. Regulate a trucking company that ships products to several states.
  •  Intrastate commerce -  business dealings involving companies that do business in only one state. Ex. A trucking company that only hauls goods within a state’s boundaries would be regulated by that state.
  • All states have assigned some of their legislative power to local governments.
    • County Boards
    • City or town councils
    • Local governments provides services
    • Police
    • Fire
  • Government Protection Activities- governments protect your rights in a number of ways.
  • Police and firefighters
  • Armed Forces (military)
  • National Security
  • Worker Protection – laws have been established to help provide a safe work environment
  • As a worker you have the right to safe working conditions
  • Safety standards for buildings, machines, and chemicals are set by government agencies
  • Government inspections and regulation of work areas help to reduce the number of job-related accidents            
  • More government regulations result from the need to protect the basic human rights of workers
    • You cannot be denied work because of race, religion, sex or age.
    • Selection fro employment must be based on job requirements, training and experience
    • Prejudices and personal biases must not affect a hiring.       
  • Contract Enforcement
  • Contract – an agreement to exchange goods or services for something of value, usually money.
    • A basic part of business
    • May be written or unwritten
    • Must contain these elements to be enforceable
    • Agreement – an offer must be made, and an acceptance must occur
    • Competent Parties – those entering the contract must be of legal age and must be mentally competent
    • Consideration – something of measureable value must be exchanged by the parties involved
    • Legality – the contract must be for a product or service that may be legally sold; also, no fraud or deception exists in the agreement.
    • These are also the basis for many legal disputes
      • An item seen as having different values by different people can result in a legal dispute
    • Examples of contracts
    • Lease to rent an apartment
    • Credit card agreement
    • Documents that state the terms of a purchase
    • Contracts benefit consumers and  businesses
    •  
  • Without enforcement, dishonest consumers or business owners could refuse to honor their agreements
  • Without contracts daily business activities would be very difficult
  • Protection of Intellectual Property
  • Intellectual Property – is purely intangible, with no physical characteristics – a person cannot touch it.  Includes patents, copyrights, and trademarks
  • Patent – gives the innovator the sole right to make, use, or sell the item for 20 years
    • A company creates a new means to record television programs could get a patent for this process
  • Copyright – protects the creative work of authors, composers, and artisits.
    • Lasts for the life of the person receiving the copyright
    • Extends for 70 years after the person’s death
    • Copyright symbol ©.
  • Trademark – a word, letter, or symbol linked with a specific company or product
    • Businesses register company names, team emblems and label designs with the government
    • Many are famous all over the world and identified with a symbol, a logo
    • Nike
Author: Pat Rox
Last modified: 6/6/2013 6:55 AM (EDT)