§ 66-152. Definitions. - North Carolina Statutes

Article24.

Trade Secrets ProtectionAct.

§ 66‑152.  Definitions.

As used in this Article,unless the context requires otherwise:

(1)        "Misappropriation"means acquisition, disclosure, or use of a trade secret of another withoutexpress or implied authority or consent, unless such trade secret was arrivedat by independent development, reverse engineering, or was obtained fromanother person with a right to disclose the trade secret.

(2)        "Person"means an individual, corporation, government, governmental subdivision oragency, business trust, estate, trust, partnership, association, joint venture,or any other  legal or commercial entity.

(3)        "Tradesecret" means business or technical information, including but not limitedto a formula, pattern, program, device, compilation of information, method,technique, or process that:

a.         Derives independentactual or potential commercial value from not being generally known or readilyascertainable through independent development or reverse engineering by personswho can obtain economic value from its disclosure or use; and

b.         Is the subject ofefforts that are reasonable under the circumstances to maintain its secrecy.

The existence of a tradesecret shall not be negated merely because the information comprising the tradesecret has also been developed, used, or owned independently by more than oneperson, or licensed to other persons. (1981, c. 890, s. 1.)