Section 1542 - DefinitionsAs used in this Act, unless the context otherwise indicates, the following terms have the following meanings. [1987, c. 143(NEW).]
1.Improper means. "Improper means" means theft, bribery, misrepresentation, breach or inducement of a breach of duty to maintain secrecy or espionage through electronic or other means. [1987, c. 143(NEW).]
2.Misappropriation. "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 [1987, c. 143(NEW).]B. Disclosure or use of a trade secret of another without express or implied consent by a person who: (1) Used improper means to acquire knowledge of the trade secret;(2) At the time of disclosure or use, knew or had reason to know that the person's 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(3) Before a material change of the person's 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. [1987, c. 143(NEW).]3.Person. "Person" means a natural person, corporation, business trust, estate, trust, partnership, association, joint venture, government, governmental subdivision or agency or any other legal or commercial entity. [1987, c. 143(NEW).]
4.Trade secret. "Trade secret" means information, including, but not limited to, 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 [1987, c. 143(NEW).]B. Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. [1987, c. 143(NEW).] [1987, c. 143(NEW).]
1987, c. 143, (NEW) . 1987, c. 143, (NEW) .