§4601. Definitions

Link to law: http://legislature.vermont.gov/statutes/section/09/143/04601
Published: 2015

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The Vermont Statutes Online



Title

09

:
Commerce and Trade






Chapter

143

:
TRADE SECRETS











 

§

4601. Definitions

As used in this

chapter:

(1)

"Improper means" includes theft, bribery, misrepresentation, breach

or inducement of a breach of a duty to maintain secrecy, or espionage through

electronic or other means.

(2)

"Misappropriation" means:

(A) acquisition

of a trade secret of another by a person who knows or has reason to know that

the trade secret was acquired by improper means; or

(B) disclosure

or use of a trade secret of another without express or implied consent by a

person who:

(i) used

improper means to acquire knowledge of the trade secret; or

(ii) at the time

of disclosure or use, knew or had reason to know that his or her knowledge of

the trade secret was:

(I) derived from

or through a person who had utilized improper means to acquire it;

(II) acquired

under circumstances giving rise to a duty to maintain its secrecy or limit its

use; or

(III) derived

from or through a person who owed a duty to the person seeking relief to

maintain its secrecy or limit its use; or

(iii) before a

material change of his or her position, knew or had reason to know that it was

a trade secret and that knowledge of it had been acquired by accident or

mistake.

(3) "Trade

secret" means information, including a formula, pattern, compilation,

program, device, method, technique, or process, that:

(A) derives

independent economic value, actual or potential, from not being generally known

to, and not being readily ascertainable by proper means by, other persons who

can obtain economic value from its disclosure or use; and

(B) is the

subject of efforts that are reasonable under the circumstances to maintain its

secrecy. (Added 1995, No. 90 (Adj. Sess.), § 1; amended 2013, No. 199 (Adj.

Sess.), § 17.)
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