Which of the Following Statements Is True About Trade Secrets

question 35

Multiple Choice

Which of the following statements is true about trade secrets?

• A)A trade secret usually receives legal protection even if its owner did not take reasonable precautions to keep it a secret.
• B)A trade secret generally does not include processes,techniques,and compilations of information.
• C)A business may attempt to maintain a trade secret when it has a process or product that is not novel enough to receive patent protection.
• D)A business may attempt to maintain the trade secret if the monopoly period for patents is relatively long.

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Definitions:

Price Maker

An entity, typically a firm, with enough market power to influence or set the price of its product or service rather than taking the market price as given.

Average Revenue

The amount of income generated per unit of sale, calculated by dividing total revenue by the number of units sold.

Conceptually Equivalent

Referencing ideas, theories, or entities that are different in nature or appearance but equal in meaning or value.

Unit Price

The cost per unit of a product, which helps consumers compare prices and make purchasing decisions.