HOUSE BILL No. 1427
DIGEST OF INTRODUCED BILL
Synopsis: Trade secrets. Provides that retail revenue information and
retail sales information on a per location basis are trade secrets.
Effective: July 1, 2001.
January 11, 2001, read first time and referred to Committee on Judiciary.
First Regular Session 112th General Assembly (2001)
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HOUSE BILL No. 1427
A BILL FOR AN ACT to amend the Indiana Code concerning trade
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 24-2-3-2; (01)IN1427.1.1. -->
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2001]: Sec. 2. As used in this chapter, unless
the context requires otherwise:
"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.
(1) 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
(2) disclosure or use of a trade secret of another without express
or implied consent by a person who:
(A) used improper means to acquire knowledge of the trade
(B) at the time of disclosure or use, knew or had reason to
know that his 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
(C) before a material change of his 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.
"Person" means a natural person, limited liability company,
corporation, business trust, estate, trust, partnership, association, joint
venture, government, governmental subdivision or agency, or any other
legal or commercial entity.
"Trade secret" means:
(1) information, including a formula, pattern, compilation,
program, device, method, technique, or process, that:
(1) (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
(2) (B) is the subject of efforts that are reasonable under the
circumstances to maintain its secrecy; and
(2) retail revenue information and retail sales information on
a per location basis.