LEGL 2700 Hackleman Exam 3 Study Guide Questions and Answers Graded A
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Course
LEGL 2700
Institution
LEGL 2700
intellectual property -Correct Answer a product of the intellect, such as an expressed idea or concept, that has commercial value
what article protects intellectual property? -Correct Answer article 1 section 8
justification -Correct Answer justifications are variously focused upon the activi...
LEGL 2700 Hackleman Exam 3 Study
Guide Questions and Answers Graded A
2024-2025
intellectual property -Correct Answer ✔a product of the intellect, such as an expressed
idea or concept, that has commercial value
justification -Correct Answer ✔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 -Correct Answer ✔creates incentives by providing exclusivity
competition -Correct Answer ✔property rights in information reduce competition
temporarily that could otherwise increase availability and keep prices low for consumers
capturing -Correct Answer ✔once something is put into the public domain, one cannot
apply for intellectual property right to recapture
trade secret -Correct Answer ✔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? -Correct Answer ✔economically valuable,
don't have to be unique, do not expire
to violate a trade secret, one must _____________ the information -Correct Answer
✔misappropriate
Uniform Trade Secrets Act -Correct Answer ✔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 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 -Correct Answer ✔false
establishing the existence of a trade secret -Correct Answer ✔conduct a trade secret
audit to identify confidential knowledge-based resources
LEGL 2700 Hackleman Exam 3
,LEGL 2700 Hackleman Exam 3
ways to preserve secrecy of a trade secret -Correct Answer ✔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 -Correct Answer ✔true; they last until discovery or loss
Al Minor Associates vs. Martin -Correct Answer ✔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 -Correct Answer ✔occurs when one improperly
acquires or discloses secret information
___________ ________ and _______ ___________ are exempted when
misappropriation is demonstrated -Correct Answer ✔independent creation and reverse
engineering
independent creation -Correct Answer ✔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 -Correct Answer ✔looking at a product and figuring out how it
works or how it is formulated is not misappropriation only if it is not patented
T/F: innocently acquiring information is considered misappropriation of a trade secret -
Correct Answer ✔false
employee mobility and trade secrets -Correct Answer ✔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 -Correct Answer ✔true
examples of things companies with trade secrets may not allow -Correct Answer ✔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 -Correct Answer ✔true
LEGL 2700 Hackleman Exam 3
, LEGL 2700 Hackleman Exam 3
document markings -Correct Answer ✔documents generated should possess
appropriate "markings" to imply what is considered a trade secret or protected data
examples of document markings -Correct Answer ✔slide contains proprietary data, not
approved for public release, for official use only, competition sensitive
patent law -Correct Answer ✔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 -Correct Answer ✔legal
monopoly
who grants patents? -Correct Answer ✔US Patent and Trademark Office (PTO)
Congress sets a period of time on a patent in Article _ Section _ -Correct Answer
✔Article 1 Section 8
utility patent -Correct Answer ✔new, non-obvious useful process, machines,
compositions of matter or improvements thereoff
examples of utility patents -Correct Answer ✔mousetrap, chemical formula, genetically
modified seed
statute of limitations for utility patents -Correct Answer ✔20 years from filing date
design patent -Correct Answer ✔a new, original and ornamental design for an article of
manufacture
statute of limitations for design patents -Correct Answer ✔15 years from issue date
examples of design patents -Correct Answer ✔shoe designs, phone shape, auto wheel
shape
plant patent -Correct Answer ✔new, variety of plant that can be reproduced asexually,
very narrow patent
examples of plant patents -Correct Answer ✔apple trees and rose bushes derived by
cutting pieces of the stem (not by germinating seeds)
statute of limitations on plant patents -Correct Answer ✔20 years from filing date
LEGL 2700 Hackleman Exam 3
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