©JUSTTRACY EXAM SOLUTIONS
07/11/2024 3:20PM
LEGL 2700 Hackleman Exam 2 Questions With
Reviewed Answers
intellectual property - answers✔✔a product of the intellect, such as an expressed idea or
concept, that has commercial value
what article protects intellectual property? - answers✔✔article 1 section 8
justification - answers✔✔justifications are variously focused upon the activities of the creator
of an intangible asset, its would-be user, and the community in which the creator operates
importance - answers✔✔creates incentives by providing exclusivity
competition - answers✔✔property rights in information reduce competition temporarily that
could otherwise increase availability and keep prices low for consumers
capturing - answers✔✔once something is put into the public domain, one cannot apply for
intellectual property right to recapture
trade secret - answers✔✔any form of knowledge or information that has economic value
from not being generally known to others or readily ascertainable by proper means and has
been the subject of reasonable efforts by the owner to maintain secrecy
what are the characteristics of trade secrets? - answers✔✔economically valuable, don't have
to be unique, do not expire
to violate a trade secret, one must _____________ the information -
answers✔✔misappropriate
Uniform Trade Secrets Act - answers✔✔adopted by the majority of states to protect trade
secrets; need to prove that there is a secret that had efforts of being kept and someone
, ©JUSTTRACY EXAM SOLUTIONS
07/11/2024 3:20PM
misappropriated and stole the secret, need to prove that the secret was valuable to the
business
T/F: a trade secret has to be unique to be protected - answers✔✔false
establishing the existence of a trade secret - answers✔✔conduct a trade secret audit to
identify confidential knowledge-based resources
ways to preserve secrecy of a trade secret - answers✔✔lock written material, secure
computer-stored knowledge with firewalls and encryption, impose confidentiality restrictions,
regulate visitors, ask anyone involved with the secret to sign a nondisclosure agreement
T/F: trade secrets do not expire - answers✔✔true; they last until discovery or loss
Al Minor Associates vs. Martin - answers✔✔issue- Martin was an employer of the AMA and
decided to start his own business while still working there, when he left he used the same
customer list as the AMA; he memorized the list, he didn't print it
holding- the court held that there is no distinction between memorizing and printing out the
list and that Martin had violated keeping a trade secret
demonstrating misappropriation - answers✔✔occurs when one improperly acquires or
discloses secret information
___________ ________ and _______ ___________ are exempted when misappropriation is
demonstrated - answers✔✔independent creation and reverse engineering
independent creation - answers✔✔if two people came up with the same idea independently/
recreate the same information that one considers to be a trade secret, it is not
misappropriation
reverse engineering - answers✔✔looking at a product and figuring out how it works or how it
is formulated is not misappropriation only if it is not patented
, ©JUSTTRACY EXAM SOLUTIONS
07/11/2024 3:20PM
T/F: innocently acquiring information is considered misappropriation of a trade secret -
answers✔✔false
employee mobility and trade secrets - answers✔✔confidentiality contract forbids employees
from disclosing knowledge obtained in the workplace
T/F: employers can enforce agreements between former employees not to compete only when
there is a valid business purpose for the contract - answers✔✔true
Economic Espionage Act - answers✔✔considers stealing trade secrets a crime
examples of things companies with trade secrets may not allow - answers✔✔carry or use of
cell phones while on-premises, USB/flash media on-premises, personal or company assigned
laptop computers, ability to leave premises with any documentation obtained during meetings
or notes derived during a meeting
T/F: many times data must only be stored by human memory - answers✔✔true
document markings - answers✔✔documents generated should possess appropriate
"markings" to imply what is considered a trade secret or protected data
examples of document markings - answers✔✔slide contains proprietary data, not approved
for public release, for official use only, competition sensitive
patent law - answers✔✔gives inventors the right to exclude others from making, using, or
selling products that infringe the patented invention for a period of time
patents are considered a _____ ________ for a period of time - answers✔✔legal monopoly
who grants patents? - answers✔✔US Patent and Trademark Office (PTO)
07/11/2024 3:20PM
LEGL 2700 Hackleman Exam 2 Questions With
Reviewed Answers
intellectual property - answers✔✔a product of the intellect, such as an expressed idea or
concept, that has commercial value
what article protects intellectual property? - answers✔✔article 1 section 8
justification - answers✔✔justifications are variously focused upon the activities of the creator
of an intangible asset, its would-be user, and the community in which the creator operates
importance - answers✔✔creates incentives by providing exclusivity
competition - answers✔✔property rights in information reduce competition temporarily that
could otherwise increase availability and keep prices low for consumers
capturing - answers✔✔once something is put into the public domain, one cannot apply for
intellectual property right to recapture
trade secret - answers✔✔any form of knowledge or information that has economic value
from not being generally known to others or readily ascertainable by proper means and has
been the subject of reasonable efforts by the owner to maintain secrecy
what are the characteristics of trade secrets? - answers✔✔economically valuable, don't have
to be unique, do not expire
to violate a trade secret, one must _____________ the information -
answers✔✔misappropriate
Uniform Trade Secrets Act - answers✔✔adopted by the majority of states to protect trade
secrets; need to prove that there is a secret that had efforts of being kept and someone
, ©JUSTTRACY EXAM SOLUTIONS
07/11/2024 3:20PM
misappropriated and stole the secret, need to prove that the secret was valuable to the
business
T/F: a trade secret has to be unique to be protected - answers✔✔false
establishing the existence of a trade secret - answers✔✔conduct a trade secret audit to
identify confidential knowledge-based resources
ways to preserve secrecy of a trade secret - answers✔✔lock written material, secure
computer-stored knowledge with firewalls and encryption, impose confidentiality restrictions,
regulate visitors, ask anyone involved with the secret to sign a nondisclosure agreement
T/F: trade secrets do not expire - answers✔✔true; they last until discovery or loss
Al Minor Associates vs. Martin - answers✔✔issue- Martin was an employer of the AMA and
decided to start his own business while still working there, when he left he used the same
customer list as the AMA; he memorized the list, he didn't print it
holding- the court held that there is no distinction between memorizing and printing out the
list and that Martin had violated keeping a trade secret
demonstrating misappropriation - answers✔✔occurs when one improperly acquires or
discloses secret information
___________ ________ and _______ ___________ are exempted when misappropriation is
demonstrated - answers✔✔independent creation and reverse engineering
independent creation - answers✔✔if two people came up with the same idea independently/
recreate the same information that one considers to be a trade secret, it is not
misappropriation
reverse engineering - answers✔✔looking at a product and figuring out how it works or how it
is formulated is not misappropriation only if it is not patented
, ©JUSTTRACY EXAM SOLUTIONS
07/11/2024 3:20PM
T/F: innocently acquiring information is considered misappropriation of a trade secret -
answers✔✔false
employee mobility and trade secrets - answers✔✔confidentiality contract forbids employees
from disclosing knowledge obtained in the workplace
T/F: employers can enforce agreements between former employees not to compete only when
there is a valid business purpose for the contract - answers✔✔true
Economic Espionage Act - answers✔✔considers stealing trade secrets a crime
examples of things companies with trade secrets may not allow - answers✔✔carry or use of
cell phones while on-premises, USB/flash media on-premises, personal or company assigned
laptop computers, ability to leave premises with any documentation obtained during meetings
or notes derived during a meeting
T/F: many times data must only be stored by human memory - answers✔✔true
document markings - answers✔✔documents generated should possess appropriate
"markings" to imply what is considered a trade secret or protected data
examples of document markings - answers✔✔slide contains proprietary data, not approved
for public release, for official use only, competition sensitive
patent law - answers✔✔gives inventors the right to exclude others from making, using, or
selling products that infringe the patented invention for a period of time
patents are considered a _____ ________ for a period of time - answers✔✔legal monopoly
who grants patents? - answers✔✔US Patent and Trademark Office (PTO)
