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Ask HN: I found documents on the backseat of a taxi. Can I legally use them?

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Ask HN: I found documents on the backseat of a taxi. Can I legally use them?

#1
I have found some printouts. Assuming they relate to some company on the stock market how can I ensure I do not pollute my Intellectual Property / avoid sentencing for insider trading or use of unauthorized information?

General question - what makes confidential confidential?

Is it enough to write it on sheet of paper? And how about other pages that don't have this clause?

General, open-ended question... Thanks.

Re: Ask HN: I found documents on the backseat of a taxi. Can I legally use them?

#2
1. The texts are subject to copyright. You have to treat them as you would any other copyrighted text. 2. You can trade on the information in the capital markets. The information was disclosed to you inadvertently. You are not an insider, you did not conspire with anyone to to violate the law. 3. The physical papers still belong to the owner. You may have custody of them, but you do not own them. With respect to trading, this is no different than walking down the street and hearing someone say that "Company X is a good buy." 4. You have a duty to return the documents, but you have no duty not to read them. In fact, you have to read them in order to be able to return them.

Re: Ask HN: I found documents on the backseat of a taxi. Can I legally use them?

#3

1. The texts are subject to copyright. You have to treat them as you would any other copyrighted text. 2. You can trade on the information in the capital markets. The information was disclosed to you inadvertently. You are not an insider, you did not conspire with anyone to to violate the law. 3. The physical papers still belong to the owner. You may have custody of them, but you do not own them. With respect to trad…

The better to understand your reply, I have a few questions:

1. Are you a lawyer?

2. If so, in what jurisdiction is your qualification valid?

3. What if the taxi in question is in Zurich, say?

4. Are you going to qualify your answer in any way, or is it absolute?

Re: Ask HN: I found documents on the backseat of a taxi. Can I legally use them?

#5

1. The texts are subject to copyright. You have to treat them as you would any other copyrighted text. 2. You can trade on the information in the capital markets. The information was disclosed to you inadvertently. You are not an insider, you did not conspire with anyone to to violate the law. 3. The physical papers still belong to the owner. You may have custody of them, but you do not own them. With respect to trad…

The better to understand your reply, I have a few questions: 1. Are you a lawyer? 2. If so, in what jurisdiction is your qualification valid? 3. What if the taxi in question is in Zurich, say? 4. Are you going to qualify your answer in any way, or is it absolute?

It 'd be best if you ask a real, qualified lawyer in the country you're resigning.

In most countries though, you're under duty to return the documents to the owner ASAP, and you're eligible to some kind of compensation according to the value of the documents.

Re: Ask HN: I found documents on the backseat of a taxi. Can I legally use them?

#6
"Legal" does not necessarily = "Right".

So forget about what's legal and just do what's right.

You are in a unique time and place in history (as evidenced by your presence here) to build something out of nothing and provide great value to others. So why don't you just forget about what you found and instead spend your precious energy building something?

As for the documents, either return them or destroy them and please move on. For everyone's sake.

Re: Ask HN: I found documents on the backseat of a taxi. Can I legally use them?

#7
See a lawyer.

Seriously. See a lawyer.

People on the internet are not lawyers; if they are lawyers, their main advice is go see a lawyer.

Law is a profession of tiny details with huge consequences. Those tiny details vary from place to place and from subject to subject. Even lawyers have lawyers.

If I learnt one and only one important lesson from my time in law school, it's this: If you have a question of law, go see a lawyer.

I mean it.

Re: Ask HN: I found documents on the backseat of a taxi. Can I legally use them?

#9

Earlier quoted context omitted.

The better to understand your reply, I have a few questions: 1. Are you a lawyer? 2. If so, in what jurisdiction is your qualification valid? 3. What if the taxi in question is in Zurich, say? 4. Are you going to qualify your answer in any way, or is it absolute?

It 'd be best if you ask a real, qualified lawyer in the country you're resigning. In most countries though, you're under duty to return the documents to the owner ASAP, and you're eligible to some kind of compensation according to the value of the documents.

I don't think that is his main concern. In the original post he seems concerned about the legality of information learned, not so much document ownership or lost and found rights.

Re: Ask HN: I found documents on the backseat of a taxi. Can I legally use them?

#10
Documents left on a taxi seat can be characterized as mislaid. That is, the paper was intentionally put on the seat and forgotten.

http://ir.lawnet.fordham.edu/cgi/viewcontent.cgi?article=117...

Confidentiality is a an agreement between parties not to disclose information to a third party.

You are now talking about the unintended disclosure of confidential information.

Since you are not a party to the confidentiality agreement, it is impossible to enforce against you.

As far as insider trader, I don't suspect a random person who stumbled upon such data lawfully could be found guilty of any crime for using it.

Moving from an absolutely legal treatment of the problem to an ethical/moral one. What you want to happen if you were the owner of those documents?

Something to consider.

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