Affiliate Marketing Secrets

Thomas Persson and Jon Nokes founded Smart Inventions, Inc., in 1991 to market household consumer products. The success of their first product, the Smart Mop, continued with later products, which were sold through infomercials and other means. Persson and Nokes were the firm’s officers and equal shareholders, with Persson responsible for product development and Nokes operating the day-to-day activities. By 1998, they had become dissatisfied with each other’s efforts. Nokes represented the firm as financially “dying,” “in a grim state, . . . worse than ever,” and offered to buy all of Persson’s shares for $1.6 million. Persson accepted. On the day that they signed the agreement to transfer the shares, Smart Inventions began marketing a new product—the Tap Light, which was an instant success, generating millions of dollars in revenues. In negotiating with Persson, Nokes had intentionally kept the Tap Light a secret. Persson filed a suit in a California state court against Smart Inventions and others, asserting fraud and other claims.
Is Smart Inventions, Inc. liable to Persson?
Is Nokes individually liable to Persson?

I’m having a hard time figuring out if these are true or false and few multiple choice… the other 120 questions I figured out..
1 A contract is defined in the law as a legally binding promise
2 Wrongful interference with a contract is a tort, also known as tampering with a contract relationship
3 A tort is wrongful interference with a business relationship involves predatory behavior beyond competition: such as business spying and intrusion
4 Appropriation for advertising purposes in part of invasion of privacy
5 The tort of defamation is impossible in a business situation
6 The use of a trademark is the same as the way a servicemark is used
7 The grant of a patent from the federal government last forever
8 A copyright is issued by a state government such as Wisconsin
9 A RICO violation can result in civil damages up to three times the actual loss, plus an award of attorney fees
10 A trade secret must be registered with the federal government
11 The tort of patent infrigement is done if a firm makes, uses, or sells anothers patented design , product, or process without the owners promission.
12 Trade secrets involve customer lists, plans, pricing and marketing techniques, among other valuable business assets
13 A strong mark is the same as a generic term
14 Defamation involves making false and damaging statements to an audience
The tort of defamation to a business could include:
a) slander of quality
b) slader of title
c) both
How does the law protect intellectual property rights?
a) It does not; any foreign citizens can steal US inventions
b) By copyrights, patents, trade and secret marks
c) By enforcement of RICO laws
International protection of intellectual property rights:
a) Always works perfectly
b) depends on the proper enforcement of treaties between the US and foreign nations such as Canada, Russia and China
c)Does not work at all; it is complete chaos out there
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