1
LEB Exam 2 Questions and Correct
Answers
Question: Trade Secret
Answer: anything that is not generally known, not readily available to
others, and provides a competitive advantage; doesn't have to be
disclosed like for a patent
ex: formulas, processes, strategies
Question: Trade Secrets are ONLY protected by _____ under the
_____Act
Answer: state law, Uniform Trade Secrets
Question: in order for a firm to file a trade secret misappropriation case,
they must prove (3):
Answer: 1. the information was actually a trade secret
2. the firm maintained reasonable measures to protect secrecy (ex:
employee NDAs, secured building, etc.)
3. the Defendant improperly acquired, used or disclosed the trade secret
info.
Question: When determining whether a trade secret exists, courts
examine these 5 factors:
Answer: 1. whether the info is known outside the company
2. how easily another could develop the info independently
3. the value of the info to the company
4. the amount of time & money the company put into creating &
protecting the info
5. how well they reasonably protected it
Pretest - Stuvia US
,2
Question: 2 ways a person would NOT be infringing on Trade Secret
info:
Answer: 1. reverse engineering
2. developing independently w/o illegal acquisition of info
Question: Doctrine of inevitable disclosure (of a trade secret)
Answer: prevents ex-employees from working for another company if:
1. the companies are competitors
2. the employee has trade secret info
3. the new job is similar enough to the old one that the trade secret
would likely be revealed
*NOT all courts agree on this
Question: Patents protect _____ but not _____
Answer: inventions NOT discovery
Question: a patent lasts for _____ years from when its is _____
providing the exclusive right to:
Answer: 20, filed;
make, use, sell
-->then goes to public domain
Question: if 2 people both invent the same thing, the 1st to ____ will
receive the patent right
Answer: file or disclose to public
Question: in order for something to be patent eligible, it must meet
these requirements (5):
Answer: 1. patentable subject-matter (invention)
2. useful
3. novel (not disclosed by prior art of another inventor)
Pretest - Stuvia US
,3
4. non-obvious
5. filed within 1 year of disclosure of own patentable info
Question: Prior art includes:
Answer: -being placed on sale
-printed publication enabling another to recreate easily
-use by or demonstration by owner in public so another could easily copy
-use in public (not the inventor) w/o confidentiality agreement from
inventor
Question: Q: Are things that are genetically modified patentable?
Answer: Yes
Question: Q: Can software be patented?
Answer: the algorithms themselves can't, but what they do and how they
do it can be (i.e. math isn't, but business method is)
Question: Patent ownership is _____ & _____
Answer: fee simple & freely transferable
-->license some to use and exclude others if they desire
Question: Work for Hire & Patents
Answer: the rights of a patent invented by an employee who used
company resources and time are granted to the company
Question: shop right
Answer: company has the right to use an employee's invention without
needing a license even if the employee was not hired to invent such a
thing for the company (like work for hire)
Question: requirements for patent infringement:
Answer: 1. new invention must contain ALL elements described in the
claims of the patented invention (literal infringement)
Pretest - Stuvia US
, 4
2. OR must be substantially equivalent (Doctrine of Equivalency) so that
even if one element is different, it performs the SAME *function*
Question: Trademark
Answer: any word, phrase, symbol, design, color, or sound that is
associated with a specific brand's reputation
Question: in order for a trademark to be protectable is must have
_____
Answer: secondary meaning-enough consumers associate it with a
particular *source* (company)
Question: 4 types of trademarks:
Answer: 1. Generic
2. Descriptive
3. Suggestive
4. Arbitrary
Question: Generic term
Answer: word or phrase used to describe an entire class of goods or
services rather than a particular seller's version of those goods/services--
> never protectable
ex: car, paper, wood
Question: Descriptive term
Answer: identifies a characteristic or quality of a product/service, such as
a color, odor, function, ingredient, etc.-->protectable w/ secondary
meaning
ex: Vision Center, Just Brakes, Southwest, Louboutin red sole shoes,
Zatarain's FISH FRI
Pretest - Stuvia US
LEB Exam 2 Questions and Correct
Answers
Question: Trade Secret
Answer: anything that is not generally known, not readily available to
others, and provides a competitive advantage; doesn't have to be
disclosed like for a patent
ex: formulas, processes, strategies
Question: Trade Secrets are ONLY protected by _____ under the
_____Act
Answer: state law, Uniform Trade Secrets
Question: in order for a firm to file a trade secret misappropriation case,
they must prove (3):
Answer: 1. the information was actually a trade secret
2. the firm maintained reasonable measures to protect secrecy (ex:
employee NDAs, secured building, etc.)
3. the Defendant improperly acquired, used or disclosed the trade secret
info.
Question: When determining whether a trade secret exists, courts
examine these 5 factors:
Answer: 1. whether the info is known outside the company
2. how easily another could develop the info independently
3. the value of the info to the company
4. the amount of time & money the company put into creating &
protecting the info
5. how well they reasonably protected it
Pretest - Stuvia US
,2
Question: 2 ways a person would NOT be infringing on Trade Secret
info:
Answer: 1. reverse engineering
2. developing independently w/o illegal acquisition of info
Question: Doctrine of inevitable disclosure (of a trade secret)
Answer: prevents ex-employees from working for another company if:
1. the companies are competitors
2. the employee has trade secret info
3. the new job is similar enough to the old one that the trade secret
would likely be revealed
*NOT all courts agree on this
Question: Patents protect _____ but not _____
Answer: inventions NOT discovery
Question: a patent lasts for _____ years from when its is _____
providing the exclusive right to:
Answer: 20, filed;
make, use, sell
-->then goes to public domain
Question: if 2 people both invent the same thing, the 1st to ____ will
receive the patent right
Answer: file or disclose to public
Question: in order for something to be patent eligible, it must meet
these requirements (5):
Answer: 1. patentable subject-matter (invention)
2. useful
3. novel (not disclosed by prior art of another inventor)
Pretest - Stuvia US
,3
4. non-obvious
5. filed within 1 year of disclosure of own patentable info
Question: Prior art includes:
Answer: -being placed on sale
-printed publication enabling another to recreate easily
-use by or demonstration by owner in public so another could easily copy
-use in public (not the inventor) w/o confidentiality agreement from
inventor
Question: Q: Are things that are genetically modified patentable?
Answer: Yes
Question: Q: Can software be patented?
Answer: the algorithms themselves can't, but what they do and how they
do it can be (i.e. math isn't, but business method is)
Question: Patent ownership is _____ & _____
Answer: fee simple & freely transferable
-->license some to use and exclude others if they desire
Question: Work for Hire & Patents
Answer: the rights of a patent invented by an employee who used
company resources and time are granted to the company
Question: shop right
Answer: company has the right to use an employee's invention without
needing a license even if the employee was not hired to invent such a
thing for the company (like work for hire)
Question: requirements for patent infringement:
Answer: 1. new invention must contain ALL elements described in the
claims of the patented invention (literal infringement)
Pretest - Stuvia US
, 4
2. OR must be substantially equivalent (Doctrine of Equivalency) so that
even if one element is different, it performs the SAME *function*
Question: Trademark
Answer: any word, phrase, symbol, design, color, or sound that is
associated with a specific brand's reputation
Question: in order for a trademark to be protectable is must have
_____
Answer: secondary meaning-enough consumers associate it with a
particular *source* (company)
Question: 4 types of trademarks:
Answer: 1. Generic
2. Descriptive
3. Suggestive
4. Arbitrary
Question: Generic term
Answer: word or phrase used to describe an entire class of goods or
services rather than a particular seller's version of those goods/services--
> never protectable
ex: car, paper, wood
Question: Descriptive term
Answer: identifies a characteristic or quality of a product/service, such as
a color, odor, function, ingredient, etc.-->protectable w/ secondary
meaning
ex: Vision Center, Just Brakes, Southwest, Louboutin red sole shoes,
Zatarain's FISH FRI
Pretest - Stuvia US
