For an Item to Be Considered a "Trade Secret," Which

question 7

Multiple Choice

For an item to be considered a "trade secret," which of the following characteristics must be present?

• A) The employer may only have disclosed this item to company directors and officers
• B) This item generally is known to, or knowable by, the general public
• C) It has been reduced to written form and is accorded physical protection, such as through the use of encryption or a locked safe
• D) It must give a company significant revenue-generating superiority over competitors

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Definitions:

Not a Merchant

Refers to an individual or entity that does not engage in buying, selling, or trading of goods or services in a particular market, and thus may not be held to certain legal standards applicable to merchants.

Return the Goods

The process of a buyer sending previously purchased products back to the seller, usually under conditions specified in the return policy.

Section 2-608

A provision within the Uniform Commercial Code that allows buyers to revoke acceptance of goods under certain conditions if the goods fail to conform substantially to the contract.

Right to Revoke

The legal ability to cancel or withdraw from a contract or agreement within a certain period of time.