What are some common legal terms used in business?
An example of an AI chatbot conversation about common legal terms in business.
What are some common legal terms used in business?
Some common legal terms include 'contract', 'liability', 'intellectual property', and 'non-disclosure agreement'.
Can you explain what a contract is?
A contract is a legally binding agreement between two or more parties that outlines the terms and conditions of a deal.
What does liability mean in a business context?
Liability refers to the legal responsibility of a business to pay debts or damages resulting from its actions.
What is intellectual property?
Intellectual property refers to creations of the mind, like inventions, designs, and brands, that are legally protected.
What is a non-disclosure agreement?
A non-disclosure agreement (NDA) is a contract that prevents parties from sharing confidential information.
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