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A trade secret is any “formula, pattern, device or compilation of information which is used in one’s business, and which gives [the employer] an opportunity to obtain an advantage over competitors who do not know or use it.” [2] "New York courts typically consider the following factors in determining whether there is a trade secret: (1 ...
A trade secret is a form of intellectual property comprising confidential information that is not generally known or readily ascertainable, derives economic value from its secrecy, and is protected by reasonable efforts to maintain its confidentiality. [1] [2] [3] Well-known examples include the Coca-Cola formula and the recipe for Kentucky ...
Between October 2002 and January 2003 five Chinese businessmen were accused of illegally shipping equipment and trade secrets from California to China, [11] and U.S. officials prevented a Chinese man from shipping a new, high-speed computer used in classified projects (including nuclear-weapons development) from Sandia National Laboratories. [11]
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The Uniform Trade Secrets Act (UTSA), published by the Uniform Law Commission (ULC) in 1979 and amended in 1985, is a model law designed for adoption by U.S. states. [1]
The Economic Espionage Act of 1996 (Pub. L. 104–294 (text), 110 Stat. 3488, enacted October 11, 1996) was a 6 title Act of Congress dealing with a wide range of issues, including not only industrial espionage (e.g., the theft or misappropriation of a trade secret and the National Information Infrastructure Protection Act), but the insanity defense, matters regarding the Boys & Girls Clubs of ...
The Directive (EU) 2016/943 on the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure is a directive of the European Parliament and the European Council which was adopted by the European Council on 27 May 2016, following an agreement reached with the European Parliament on 15 December 2015, [1] and amendment by the ...
Information can make the difference between success and failure; if a trade secret is stolen, the competitive playing field is leveled or even tipped in favor of a competitor. Although a lot of information-gathering is accomplished legally through competitive intelligence, at times corporations feel the best way to get information is to take it ...