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Trade secrets are protected by a combination of state and federal laws, which prescribe a combination of civil and criminal penalties for trade secret ?misappropriation??the improper acquisition, disclosure, or use of a trade secret.
For example, information that is not generally known by the public but is known by different manufacturers in the same industry likely does not qualify as a trade secret. Material that is ascertainable through public sources generally does not derive independent economic value justifying trade secret protection.
The NTSA protects those entities whose secrets were misappropriated through theft, bribery, misrepresentation, breach of a duty to maintain secrecy, espionage through electronic means, or other improper methods.
Trade secrets are a key component of IP portfolios helping businesses protect their secret formulas, know-how and other key information that gives them a competitive edge. Read our real-world trade secret cases for examples of how companies have used trade secrets to protect their intellectual property.
This important new legislation creates a federal, private, civil cause of action for trade-secret misappropriation in which ?[a]n owner of a trade secret that is misappropriated may bring a civil action . . . if the trade secret is related to a product or service used in, or intended for use in, interstate or foreign ...
Punitive damages of up to twice the amount of actual loss may be available if the trade secret was willfully and maliciously appropriated. The decision of whether to seek enforcement of your trade secret rights in federal or state court depends on a number of factors.
secret defendant's best strategy is to show it only used its own or public information. Independent development is a complete defense to misappropriation because it destroys the plaintiff's third required showing.
"Trade secret" means any method, technique, process, formula, program, design, or other information that can be used in the course of production, sales, or operations that can also meet the following three requirements: (1) it is not known to persons generally involved in the information of this type; (2) it has actual ...