Summer 2006. A letter, an FBI agent posing as a buyer for Pepsi, $30,000 in a yellow Girl Scout cookie box at Atlanta's airport, and a $1.5 million deal that ended in three arrests. Here is every step in the record's own words, the documents themselves, and a 2-minute check for your own business.
Every dollar, in order. Quotes from the Justice Department's release (DOJ) and the appeals court opinion (11th Cir.).
"very detailed and confidential information about Coca-Cola's marketing campaigns for the next 4 years" ... "to the highest bidder."
"On May 19, 2006, Pepsi personnel faxed a copy of the letter to Coca-Cola."
"$75,000 for the purchase of a highly confidential product sample from a new Coca Cola project."
"The undercover agent paid 'Dirk' $30,000 in $100 and $50 bills of United States currency contained within a yellow Girl Scout cookie box"The other $45,000 was due "after successful testing of the product sample".
"an undercover FBI agent offered to buy the remaining trade secret items for $1.5 million"
"arrested in Atlanta without incident on July 5, 2006, the day the $1.5 million deal was to take place."
It was never the formula. The letter offered marketing plans; the court describes "confidential Coca-Cola marketing documents and a product sample" (11th Cir. p. 3). Coke's spokesman said the Coca-Cola formula was not stolen (AP, 6 July 2006). Pepsi's spokesman: "Competition can sometimes be fierce, but also must be fair and legal."
Public records. Our copies, plus the official links.
US Attorney, Northern District of Georgia: the sentencing, the cookie box, the $1.5 million offer, the arrests. 3 pages.
The appeals court's account of the facts (pp. 2-9): the letter, the fax, the agent posing for Pepsi, the cameras, the airport. 24 pages.
Why Pepsi couldn't buy: under 18 U.S.C. § 1832(a)(3) it is a federal crime to knowingly "receive, buy, or possess" a stolen trade secret (text).
Coke's leak wasn't a hacker. It was someone with access and a bag. List what would hurt most if a rival had it, answer four taps each, and get your weakest spot plus what to do about it.
Why "marked and limited" matters: US law only treats information as a trade secret if the owner "has taken reasonable measures to keep such information secret" (18 U.S.C. § 1839(3)(A)). This check is a starting point, not legal advice.