The Economic Espionage Act of 1996 (As Amended in 2012

question 19

Multiple Choice

The Economic Espionage Act of 1996 (as amended in 2012 and 2016) :

• A) defines trade secrets to include information only in tangible form.
• B) protects the owner of trade secrets regardless of the measures used to keep the information secret.
• C) provides for punishment of organizations that violate the act by subjecting them to fines of up to $5 million.
• D) narrowly defines theft of trade secrets.

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Definitions:

Cost Method

An accounting technique where investments are recorded at their original purchase cost, without adjustment for market changes unless deemed permanently impaired.

Non-controlling Interest

The portion of equity in a subsidiary not owned by the parent company, showing the equity interest in a subsidiary held by minority shareholders.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues.

Deferred Taxes

are taxes that are accumulated due to temporary differences between the accounting income and taxable income, and will be paid or received in the future.