For those who might use or otherwise pass along company proprietary business plans...
Proprietary Information & Trade Secrets
The Economic Espionage Act of 1996 (18 USC 1831-39) defines trade secrets as all forms and types of financial, business, scientific, technical, economic or engineering information, including patterns, plans, compilations, program devices, formulas, designs, prototypes, methods, techniques, processes, procedures, programs, or codes, whether tangible or intangible, and whether or how stored, compiled, or memorialized physically, electronically, graphically, photographically, or in writing if:
The owner thereof has taken reasonable measures to keep such information secret, and;
The information derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable through proper means by the public.
Legal & Regulatory Authorities
Title 5 USC 552(b) – Exemption b.(4),- Freedom of Information Act.
Title 12 USC 3417 – Right to Financial Privacy, Civil Penalties.
Title 18 USC 1831–39 - Protection of Trade Secrets [Chapter 90].
Title 18 USC 1905 – Disclosure of Confidential Information.
Enforcement
The Economic Espionage Act contains two separate provisions that make the theft or misappropriation of trade secrets a federal criminal offense. The first provision, under Section 1831, is directed toward foreign economic espionage and requires that the theft of a trade secret be done to benefit a foreign government, instrumentality, or agent. In contrast, the second provision, under Section 1832, makes the commercial theft of trade secrets a criminal act regardless of who benefits.
A defendant convicted of economic espionage under Section 1831 can be imprisoned for up to 15 years and fined $500,000 or both. Corporations and other organizations can be fined up to $10 million. A defendant convicted for theft of trade secrets under Section 1832 can be imprisoned for up to 10 years and fined $500,000 or both. Corporations and other entities can be fined no more than $5 million.
► Any comment provided is my personal assessment/opinion of the indicated stock. "When the gods wish to punish you, they grant your wishes. Therefore be careful of what you wish for."
