Question

What is the most effective remedy for disclosing a trade secret when the trade secret was obtained inappropriately?

		Returning the secret to the company
		Money damages
		Equitable relief
		Attorney's fees

What are possible punishments for those found guilty under the Economic Espionage Act?

		$10,000 or prison time
		$500,000 and ten years in prison
		Ten years in prison or fine
		$100,000 and five years in prison

Transactions that involve the transfer of the right of possession and use of goods for a term, in return for consideration, is covered by UCC Article _____.

		2
		4
		2A
		2C

Luscious Louie's is a gourmet cater. For $3,000 a month, it has the right to possession and use of an industrial oven owned by ABC Appliances. Title stays with ABC. This type of transaction is covered by the UCC under which article?

		Article 2
		Article 2A
		Article 4

Bob received a check from Ruby that had been made payable to Ruby and properly endorsed to Bob. In which of the following situations did Bob give value and become a holder in due course of the check?

		Bob received the check in an illegal matter.
		Bob received the check in exchange for promising to give Ruby's daughter guitar lessons.
		Bob received the check as a graduation gift from Ruby.
		Bob received the check as partial payment of a loan he had made to Ruby.

Answer 1

1). Money damages can be the most effective remedy against inappropriately obtained trade secrets because if the damages awarded are significant then potential earnings from the revealed trade secret can be recouped to some extent.

2). Those found guilty under the Economic Espionage Act can be fined $500,000 and imprisoned for upto 10 years.

3). Transactions that involve the transfer of the right of possession and use of goods for a term, in return for consideration, is covered by UCC Article 2A.

4). The type of lease transaction described is covered under UCC Article 2A.