Contractual Agreements Protecting Trade Secrets Self-Quiz

 

 

 

 

 

 

 

A ?noncompete agreement? is:
Choice 1 An agreement between companies not to file competing patents involving trade secrets.
 Choice 2 An agreement between two parties where one promises not to use a trade secret learned from the other in a competitive commercial endeavor.
 Choice 3 The agreement between states and the federal government which makes patent law the domain of the federal government but trade secret law the domain of the states.
 Choice 4 An agreement which can only be entered into between an employee and her employer.
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?
Choice 1 A noncompete agreement.
 Choice 2 A nondisclosure agreement.
 Choice 3 Both of the above.
 Choice 4 None of the above.

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