GBA Chapter 3| Questions and Answers |Complete Solutions Graded A+ |100% Correct
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. False
Generally, a hair conditioner formula can be a trade secret. 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. True
The __ oversees trading. Securities and Exchange Commission
The "Property Rights" argument is a philosophy based on employees owning their labor.
True
Wexler v. Greenberg (1960), which involved a chemist's use of his discoveries about floor waxes
and cleaners, established that 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. 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. True
Martha Stewart acted on a tip that she knew breached her broker's duty. True
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. False
Generally, a hair conditioner formula can be a trade secret. 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. True
The __ oversees trading. Securities and Exchange Commission
The "Property Rights" argument is a philosophy based on employees owning their labor.
True
Wexler v. Greenberg (1960), which involved a chemist's use of his discoveries about floor waxes
and cleaners, established that 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. 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. True
Martha Stewart acted on a tip that she knew breached her broker's duty. True
