MGM102H5 Chapter Notes - Chapter 5: Canada Pension Plan, Corporate Law, Monetary Policy
Document Summary
Government affects business: government activities that affect corporations are: Canadian manufacturing which had higher costs; this allowed for canada"s economy to grow and is the reason why the canadian government is still involved in maintaining the economy. Income tax, property tax, sales tax are biggest sources of tax revenue. Industrial policy: comprehensive, coordinated government plan to guide and revitalize the economy: requires close consultation with business and labour to develop a comprehensive program for long-term sustainable idustrial development. Statutory law: written law; federal and provincial legislative enactments, treaties of the federal government, and bylaws: common law: unwritten law; body of law that comes from decisions handed down by judges; precedents determine this law, not written documents. Patent: intellectual property; gives investors exclusive rights to their inventions for 20 years: patent is recieved if the invention of a product or process is unique and possibility of having commerical value, ex: polaroid camera.
