Missouri Complaint - Trade Secrets - Misappropriation by Former Employee and Prospective Purchaser - Breach of fiduciary duty
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FAQ
Trade secret misappropriation occurs when a trade secret has been wrongfully taken or disclosed without consent. A trade secret is defined as information (1) that derives independent economic value from not being generally known, and (2) which has been the subject of reasonable efforts to be kept a secret.
Claims for personal injury or damage to your property and claims for money damages for breach of contract must be filed within five years. Claims to recover money for breach of a written promise to pay must be filed within ten years from the date of the breach of the written promise.
Written Contracts: 5 years for payment of money or property, otherwise 10 years. MO Rev Stat § 516.120.; MO Rev Stat § 516.110. Verbal/Oral Contracts: 5 years.
Nearly all states, including Missouri, have certain crimes that are not limited by a statute of limitations, murder and class A felonies, for example.
In general, all felonies that are not in the above list have a statute of limitations of 3 years. The government only has 1 year to bring a case to court for any crimes that are classified as a misdemeanor.
The statute of limitations for a breach of fiduciary duty claim is five years in Missouri but only two years in Kansas. See R.S.Mo. § 516.120; K.S.A. § 60-513(a)(4).
?Misappropriation? is statutorily defined and occurs in two ways. The first is when one acquires a trade secret through ?improper means,? that is through such means as theft, bribery or inducing one to breach a duty of secrecy?
For the first time, the DTSA gives American companies the opportunity to protect against and remedy misappropriation of important propriety information in federal court. Businesses should be aware of the salient provisions of the DTSA discussed below in order to adequately prepare to employ the protections of the DTSA.