Trade Secrets

Question 1

What is a trade secret?

Answer 1

A secret method or device used by a company in manufacturing its products

Question 2

Three element of a Trade Secret Action

Answer 2

1. Something of value
2. That was kept secret
3. Was Missapropriated

Question 3

Value

In order to have a trade secret action, you must show that…

Answer 3

something specific of commercial value was taken. Mallet

Question 4

Keeping a trade secret requires…

Answer 4

Reasonable efforts must have been made to keep it a secret within the context of the business and the industry. Rockwell Graphic Systems

Question 5

What group reporting to what type of entity is immune from trade secret actions?

Answer 5

Whistleblowers reporting to their attorney or the government on suspected illegal activity

Question 6

Missapropriation means…

Answer 6

aquirement through impropper means or a breach of confindence

Question 7

As with the airplane in El du Pont, improper means generally means…

Answer 7

Unanticipated, undetectable, or unpreventable methods

Question 8

As with the shipping container in Smith, breach of confidence only requires that…

Answer 8

both parties know that the information was a trade secret

Question 9

As discussed in Kadant with the fired engineer, this action is not missapropriation?

Answer 9

Reverse Engineering

Question 10

True or False: As discussed with the listerene formula and it’s liscensing, there is a time limit on trade secrets?

Answer 10

False, there is no time limit on trade secrets and the later publicizing of a previously hidden formula does not mean that a liscense to use the formula is null