9. Cement Tech, Inc. developed a new type of cement that sets in 30 minutes. How

Question

9. Cement Tech, Inc. developed a new type of cement that sets in 30 minutes. How can this formula be protected without filing for a patent?   

A. By putting a notice on the product that the formula is a proprietary.

B. If the company takes all reasonable steps to avoid discovery of the formula, it can be protected against some, but not all, methods of discovery of the secret.   

C. Without a patent, no protection is available.

D. By putting a notice on the product that the formula is a protected trade secret.

E. None of the above answers is correct.

10. Edward and Ivan make an oral contract for the sale of some land at a price of $490,000. After paying Edward $90,000 of the purchase price, Ivan took possession of the land. One month later, Edward got an offer to sell the land to someone else for a greater amount than Edward paid. Edward argued that the parties' oral agreement is unenforceable under the statute of frauds. Which of the following is most correct?

A. Edward is correct, because this is an oral contract for the sale of real estate

B. Edward is incorrect, because Ivan paid part of the purchase price and took possession

C. Edward is incorrect, because the contract is for an indefinite period of time

D. Edward is correct, because the contract is for an amount greater than $500

E. none of the above is correct

Explanation / Answer

9. Cement Tech, Inc. developed a new type of cement that sets in 30 minutes. How can this formula be protected without filing for a patent?   Without a patent, no protection is available to Cement Tech. The authorities prevent the formula from being copied for a certain specified period. the other methods in the alternative options may not be feasible and effective..

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