Regulatory Environment Questions with Answers (Board Questions)
Group A: Very Short Answer Questions
1. (2023 Spring Q. No. 9) State the difference between Patent and Trademark.
Answer: The differences between Patent and Trademark are:
| Patent | Trademark |
|---|---|
| A legal right granted for an invention, giving the inventor exclusive rights to use and sell it. | A symbol, word, or phrase that identifies and distinguishes a company’s goods or services. |
| Protects new inventions or processes. | Protects brand names, logos, or symbols. |
2. (2021 Spring Q. No. 3) What do you understand by intellectual property rights?
Answer: Intellectual Property Rights (IPR) refer to the legal protections granted to creators and inventors for their original works and inventions. These rights allow individuals and businesses to control the use of their creations and to benefit financially from them.
3. (2021 Spring Q. No. 9) What do you mean by consumer rights? List any 3 consumer rights according to the Consumer Protection Act, 1998.
Answer: Consumer rights are the basic protections that ensure people are treated fairly when they buy goods and services. These rights include safety, clear information, the ability to choose, the right to voice complaints, and the right to seek help if there are problems with a purchase. According to Consumer Protection Act, 1998 the consumer rights are as follows:
i. Right to Safety
ii. Right to Information
iii. Right to Choose
4. Point out the important matters of the memorandum of association.
Answer: The important matters of the memorandum of association are:
i. The official name of the company, which must be unique.
ii. The address of the company’s registered office for legal correspondence.
iii. A statement outlining the company’s purpose and activities.
iv. Specifies the extent of liability of the members (limited by shares or guarantee).
v. Details the authorized share capital and types of shares.
vi. A declaration by the founders stating their intention to form the company.
Group B: Descriptive Answer Questions
1. (2023 Fall Q. No. 14) Discuss the various aspects of Consumer Protection Act, 2075 of Nepal. – Answer (Click Here)
2. (2022 Fall Q. No. 15) Mention the main provisions of Foreign Investment and Technology Transfer Act 1992. What are the prospects and problems of FDI in Nepal? – Answer (Click Here)
3. (2020 Fall Q. No. 14) Explain the salient features of the Industrial Entreprises Act, 2016. How far this act is suitable for the development of industries in Nepal? – Answer (Click Here)
4. (2019 Spring Q. No. 13) Explain the salient features of the Industrial Enterprise Act, 2073. Do you see any shortcomings? How far this act is suitable for the development of industries in the country? Explain.
Please see 2020 Fall Q. No. 14
5. (2018 Spring Q. No. 13) Nepal Government issue the New Foreign Investment Policy (FIA) 2074. How do you assess the FIA 2074? Does it bring a congenial environment? Explain with considering the major provisions of FIA 2074. – Answer (Click Here)
Click Here: Business Environment in Nepal Questions With Answers