Most businesses go to serious lengths to protect their trade secrets. That's why it's devastating when misappropriation of trade secrets occur.
What exactly is misappropriation of trade secrets and how can businesses fight back?
Misappropriation of trade secrets occurs when a competitor or former employee acquires secret or protected information through improper means and publishes it without consent. Business trade secrets can include a variety of types of information. Some examples include business plans, designs, products, formulas, special programs, unique codes, methods, scientific data, and much more.
How can businesses fight back when their trade secrets are stolen?The laws of the states govern trade secret misappropriation. Typically, to litigate a case of trade secret misappropriation, a plaintiff must prove the following:
- The information was a trade secret
- The plaintiff took steps to protect and maintain the secrecy of the information
- The defendant misappropriated the trade secret
What should a business do if their trade secret was misappropriated?It's important to consult with an attorney. A business litigation attorney can evaluate your case and advise you on the best route for your claim.Trade secrets are not governed by Federal statutes like patents, copyrights and trademarks are. It's important to learn about the laws of your state.
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