The Greatest Advantage of a Trade Secret Over Other Forms

question 6

Multiple Choice

The greatest advantage of a trade secret over other forms of intellectual property may be that:

• A) the content of a trade secret is typically common knowledge among competitors.
• B) the duration of a trade secret's value and service may be almost limitless to its owner.
• C) independent development of a formulation or process by outside parties can never be done legally.
• D) the secret will never be disclosed, even if large numbers of people are fully aware of the process or formulation.

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Definitions:

Dishonored

Referring to a financial instrument, such as a check or promissory note, that is not accepted or paid when presented for payment.

Note

A promise by the maker of the note to pay the payee of the note.

Reasonable Identification

The process of sufficiently identifying an individual through the use of valid and reliable means or documents.

Fraud In The Factum

A liability defense available to a party who signs a negotiable instrument without knowing that it is a negotiable instrument.