LEGL 4200 Test 1, Exam Questions and answers/| LATEST EXAM UPDATES| 2024/25 |

LEGL 4200 Test 1, Exam Questions and answers/ 1. Trade Secret (protects information) 2. Patent (protects inventions and processes) 3. Copyright (protects creative endeavors in fixed forms) 4. Trademark (protects names and symbols that identify sources of goods and services) - -4 basic areas of IP. Trade Secret - -Information that has economic value, actual or potential, due to its secrecy and is subject to "reasonable" steps to maintain secrecy. Defend Trade Secrets Act (DTSA 2016) - -Law allowing suits at federal or civil levels for trade secret misappropriation. (Damages or injunctions). Economic Espionage Act (EEA 1996) - -Law involving criminal punishment of trade secret misappropriation. Misappropriation for a foreign entity is 15 years and $5 million fine. Exemption for whistleblowers. Involves corporate espionage. Uniform Trade Secrets Act (UTSA) - -Law that is civil in 49 states. Damages and or injunctions. Largely preempted common law. TS (Has economic value, actual or potential, due to its secrecy) - -Includes: processes, software, customer lists, strategy documents, etc. (very broad). NO (Not a TS) - -Does a TS have value if it is easily replicable? YES (Still a TS) - -Does a TS have value if a few others have the information? Case Summary and Decision: Learning Curve v. PlayWood Toys - -Learning Curve v. Playwood Lesson: Learning Curve v. PlayWood Toys - -100% secrecy is not needed to be a TS, concept can be a TS if it had value due to secrecy, and there is no minimum efforts rule to create a TS.