Asked by Mason Smith on Jun 29, 2024
Verified
Which of the following is correct with respect to trade secrets?
A) There is no duty not to disclose trade secrets, unless specified in contract.
B) Trade secrets include such things as formulas, patterns, recipes.
C) The information must be fully disclosed under the provincial Trade Secrets Act.
D) The employee need not be informed that the information is confidential.
E) Personal information cannot be a trade secret, even if it affects the business.
Trade Secrets
Confidential business information that provides an enterprise with a competitive edge, and is subject to efforts to maintain its secrecy.
Provincial Trade Secrets Act
Legislation at the provincial level that provides protection for trade secrets and against unfair competition.
Confidential
Information or documents that are private and not to be shared with unauthorized individuals.
- Cultivate an understanding of the basic facets of intellectual property rights, including patents, copyrights, trademarks, and trade secrets.
- Distinguish between the different forms of intellectual property and their specific protection mechanisms.
Verified Answer
ZK
Zybrea Knight
Jul 05, 2024
Final Answer :
B
Explanation :
Trade secrets encompass a wide range of confidential business information including formulas, patterns, and recipes, which are protected from being disclosed without authorization. This is because they hold economic value for the business by not being generally known or readily ascertainable by others who can profit from its disclosure or use.
Learning Objectives
- Cultivate an understanding of the basic facets of intellectual property rights, including patents, copyrights, trademarks, and trade secrets.
- Distinguish between the different forms of intellectual property and their specific protection mechanisms.