Print
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.)