Which of the following statements is true about trade secrets?
A) A trade secret is a distinctive mark, word, design, picture, or arrangement used by the producer of a product that tends to cause consumers to identify the product with the producer.
B) Inventions and designs are not considered as trade secrets.
C) A trade secret is protected by the common law as long as it is kept secret and comprises elements not generally known in the trade.
D) If a trade secret is discovered by a competitor through reverse engineering, the competitor may not profit from the discovery without paying royalties to the party holding the trade secret.
C
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State insurance regulators require LMN Life Insurance Company to maintain a separate account. The assets in the separate account would support the liabilities for which of the following products?
A) term life insurance B) whole life insurance C) fixed annuity D) variable life insurance