Violation of Trade Secrets

A trade secret is defined as "a piece of information, a formula, pattern, compilation, program, device, method, technique or process that derives independent economic value, actual or potential, from not being generally known to the public or to other persons who can obtain economic value from its disclosure or use; and is the subject of efforts that are reasonable under the circumstances to maintain its secrecy". (Uniform Trade Secret Act, 1985).

Famous corporations usually employ trade secrets that are attributed to their businesses' success. To protect the interests and welfare of businesses by protecting trade secrets, the US Government has enacted the Uniform Trade Secret Act, which prevents any wrongful use of a trade secret.

There must be reasonable steps taken to ensure the secrecy of the trade secret. Employees who are usually designated to do tasks that employs trade secrets are usually asked to sign a Non-Disclosure Agreement, which is an essential component of protection for the business, and for the employees not to misappropriate the trade secrets outside the business organization.

It is said that trade secrets are violated when it is acquired by improper means such as industrial espionage (stealing, carrying away, concealing, copying, duplicating, and other forms of activity that includes buying and/or possessing of trade secrets by another party). When proven that there's a violation of trade secrets, the court can order the violator to pay exemplary damages to the trade secret owner, any reasonable royalties, and also issue an injunction against the use of the information.

If your business has been a victim of violation of trade secrets, our business lawyers from Mesriani Law Group can help you file a claim to seek injunction for the damages done by the acquirer. Our lawyers have helped clients before in seeking claims and have won numerous cases of violation of trade secrets. To speak to a business lawyer today call our toll-free number, or submit a free case evaluation form from our website now.