Purchase a course multi-pack for yourself or a friend and save up to 50%!
5-COURSE MULTI-PACK $180
10-COURSE MULTI-PACK $300
Accelerated 1-year bachelor's program
Question 1
A noncompete agreement is:
Correct
Incorrect!
Correct Noncompete agreements can be entered into by a variety of parties, but what they have in common is that one person or entity is agreeing not to use the other's secret information against him in business. Although patent law is controlled by federal statute and there is no federal statute of trade secrets (except for government employees and contractors, which is found at 18 U.S.C. section 1905), there is nothing which would prevent Congress from passed federal trade secret legislation.
Incorrect! Noncompete agreements can be entered into by a variety of parties, but what they have in common is that one person or entity is agreeing not to use the other's secret information against him in business. Although patent law is controlled by federal statute and there is no federal statute of trade secrets (except for government employees and contractors, which is found at 18 U.S.C. section 1905), there is nothing which would prevent Congress from passed federal trade secret legislation.
Correct
Incorrect!
Correct
Incorrect!
Question 2
Bob has invented a device which can be attached to a vacuum cleaner and used to trim a man's beard. He decides to approach the 'Phlow-B' company, which already makes a similar item, and present them with his concept. He hopes that they will like his idea and either pay him for the design or offer to go into business together. Which of the following agreements should Bob ask the company to sign before disclosing his idea?
Correct
Incorrect!
Correct
Incorrect!
Correct In order to be fully protected, Bob needs to make the company promise that (a) they will not take his idea and make a competing product, and (b) they will not sell his idea to another company or otherwise tell others about it. One without the other will expose Bob to unnecessary risk.
Incorrect! In order to be fully protected, Bob needs to make the company promise that (a) they will not take his idea and make a competing product, and (b) they will not sell his idea to another company or otherwise tell others about it. One without the other will expose Bob to unnecessary risk.