In Bohnsack V

question 327

Multiple Choice

In Bohnsack v. Varco, inventor Bohnsack discussed selling an invention to Varco for it produce but no agreement was reached. Bohnsack later claimed Varco stole the idea and filed for a patent on the idea. He sued Varco for theft of trade secret. The appeals court held that:

• A) a jury could find that Varco knowingly misappropriated a trade secret so owed damages based on the value of the secret
• B) a reasonable jury could not find that Varco knew that the ideas Bahnsack provided were considered trade secrets
• C) even if Varco stole trade secrets, Bahnsack did not show there was any market value in his ideas, so there would be no damages
• D) even if Varco stole trade secrets, the information Bahnsack provided had not been adequately protected so were in the public domain
• E) none of the other choices are correct

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Depreciable Lives

The estimated period over which a tangible asset is expected to be usable by a business, affecting its depreciation calculation.

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The cost associated with purchasing insurance policies, recognized as an expense by businesses over the period the insurance coverage is applicable.