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Steve Works for a Cement Company as an IT Contractor

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Essay

Steve works for a cement company as an IT contractor.The company does not ask Steve to sign a nondisclosure agreement,but Steve has full access to the company databases and documents.Steve also attends meetings during which a new,fast-drying,and injectable product is openly discussed.A year later,Steve reveals the formula to a competing company and is scheduled to receive royalties.Discuss the legal and ethical issues involved in this action.


Definitions:

New Balance

The updated amount in an account following recent transactions or adjustments.

Transposition

An error in which the order of the digits is changed, such as writing $542 as $452 or $524.

Journalizing

The procedure of logging company transactions in a journal, forming a part of the cycle of accounting.

Debit

An accounting entry showing an increase in assets or expenses or a decrease in equity, liabilities, or revenue.

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