Chapter 40 - Outline

Chapter 40 - Outline - Law for Accountants I (GenBus 304)...

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Law for Accountants I (GenBus 304) Dr. Decateur Reed CHAPTER 40: Protection of Intellectual Property I. Trade Secrets. A. Defined: 1. Commercially valuable information that is guarded from disclosure and is not general knowledge. 2. Information that has: a. independent economic b. independent effort to keep that secret B. Misappropriation: 1. Defined: wrongful acquisition and/or use of a trade secret. 2. If an employee no longer works for the employer who holds the secret, the employee: a. cannot: devote the secret b. can: use 3. Can only use another’s trade information if: a. u dependency research it b. volunteer grow c. fail to defect the secret d. C. Remedies: 1. Damages: a. Whichever is greatest, either: 1) the loss to the plaint 2) 2. Injunction: a. Perpetual as long as it takes to continue protecting Plaintiff. D. Criminal Penalties under the Economic Espionage Act: 1. Individuals: a. Fines and/or b. imprisonment. 2. Corporations: a. Fines. II. Trade Symbols. A. Federal Trademark Act (called Lamham Act) makes it illegal to: 1. market or use another’s goodwill, name, and reputation which deceives the public and deprives honest business trade. 2.
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This note was uploaded on 04/12/2011 for the course BUS 304 taught by Professor Greed during the Spring '11 term at Boise State.

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Chapter 40 - Outline - Law for Accountants I (GenBus 304)...

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