GBA Chapter 3
The federal and Texas courts have excluded privileged information as trade secrets
when the information is generally known outside the corporation, or when the
intellectual property of an employee (talents, skills and abilities), or the information can
be easily or quickly reproduced outside the corporation. - CORRECT ANSWER-True
The __ oversees trading. - CORRECT ANSWER-Securities and Exchange Commission
The "Property Rights" argument is a philosophy based on employees owning their labor.
- CORRECT ANSWER-True
According to the SEC, there are almost 500 civil enforcement actions each year against
individuals and companies that break securities laws. Insider trading is one of the most
common laws broken. - CORRECT ANSWER-True
Martha Stewart acted on a tip that she knew breached her broker's duty. - CORRECT
ANSWER-True
Design patents are limited to _ years. - CORRECT ANSWER-15
The Texas Uniform Trade Secret act outlines a fourteen point test that the Texas courts
must consider before excluding a party's representative at any stage of the proceedings.
- CORRECT ANSWER-False
Generally, a hair conditioner formula can be a trade secret. - CORRECT ANSWER-True
Wexler v. Greenberg (1960), which involved a chemist's use of his discoveries about
floor waxes and cleaners, established that - CORRECT ANSWER-It is legitimate for an
employee to use in new employment discoveries found as the result of routine
application of his or her skill in a previous position
United States v. Sazonov April 13, 2017 The U.S. government in District Court alleged
that Sazonov attempted to steal a valuable proprietary computer codes that took his
employer years to develop. - CORRECT ANSWER-True
The federal and Texas courts have excluded privileged information as trade secrets
when the information is generally known outside the corporation, or when the
intellectual property of an employee (talents, skills and abilities), or the information can
be easily or quickly reproduced outside the corporation. - CORRECT ANSWER-True
The __ oversees trading. - CORRECT ANSWER-Securities and Exchange Commission
The "Property Rights" argument is a philosophy based on employees owning their labor.
- CORRECT ANSWER-True
According to the SEC, there are almost 500 civil enforcement actions each year against
individuals and companies that break securities laws. Insider trading is one of the most
common laws broken. - CORRECT ANSWER-True
Martha Stewart acted on a tip that she knew breached her broker's duty. - CORRECT
ANSWER-True
Design patents are limited to _ years. - CORRECT ANSWER-15
The Texas Uniform Trade Secret act outlines a fourteen point test that the Texas courts
must consider before excluding a party's representative at any stage of the proceedings.
- CORRECT ANSWER-False
Generally, a hair conditioner formula can be a trade secret. - CORRECT ANSWER-True
Wexler v. Greenberg (1960), which involved a chemist's use of his discoveries about
floor waxes and cleaners, established that - CORRECT ANSWER-It is legitimate for an
employee to use in new employment discoveries found as the result of routine
application of his or her skill in a previous position
United States v. Sazonov April 13, 2017 The U.S. government in District Court alleged
that Sazonov attempted to steal a valuable proprietary computer codes that took his
employer years to develop. - CORRECT ANSWER-True
