Trade Secrets Flashcards
What is a trade secret?
A secret method or device used by a company in manufacturing its products
Three element of a Trade Secret Action
- Something of value
- That was kept secret
- Was Missapropriated
Value
In order to have a trade secret action, you must show that…
something specific of commercial value was taken. Mallet
Keeping a trade secret requires…
Reasonable efforts must have been made to keep it a secret within the context of the business and the industry. Rockwell Graphic Systems
What group reporting to what type of entity is immune from trade secret actions?
Whistleblowers reporting to their attorney or the government on suspected illegal activity
Missapropriation means…
aquirement through impropper means or a breach of confindence
As with the airplane in El du Pont, improper means generally means…
Unanticipated, undetectable, or unpreventable methods
As with the shipping container in Smith, breach of confidence only requires that…
both parties know that the information was a trade secret
As discussed in Kadant with the fired engineer, this action is not missapropriation?
Reverse Engineering
True or False: As discussed with the listerene formula and it’s liscensing, there is a time limit on trade secrets?
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