Trade Secret Lawyer:
Protect Your Genius and Bottom Line
Trade secrets keep companies competitive. When compromised, money and market positions are at stake. To learn more about trade secret law, keep scrolling; there’s a wealth of information below the fold. To speak with an AV-rated, trade secret lawyer, get in touch.
What Is A Trade Secret, Anyway? A Simple Legal Definition
A trade secret is a business process, procedure or thing that:
- Gives a company an economic advantage;
- Is non-public, privileged information;
- Is purposefully kept secret.
A trade secret can be a:
- Business practice
- Collation of information
What Is a Trade Secret & What Isn't?
|Independent Invention||Theft & Bribery|
|Reverse Engineering||Espionage / Spying|
|Published Literature||Breach of Inducement or Duty To Maintain Secrecy|
The Nine Pillars Of Trade Secret Law
- 1For something to qualify as a trade secret, it must be surreptitious -- meaning that people in the business community aren't privy to the information.
- 2Some companies, like Coca-Cola, opt to protect their confidential information with trade secrets instead of patents because trade secrets don't have expiry dates.
- 3Compared to other intellectual property torts, trade secret protection is versatile. Unlike patents, parties aren't required to formally register trade secrets.
- 4Trade Secret Remedies include injunctive relief, monetary damages, and attorneys' fees.
- 5Package and “shrink” licensing software, that include confidentiality clauses, can maintain legal protection.
- 6Trade Secret Minus: There isn't a legal redress for reverse engineering. Yes, reverse engineering is legal.
- 7To win a trade secret claim, plaintiffs must prove that they made efforts to keep the information under lock and key.
- 8To successfully argue a trade secret misappropriation lawsuit, plaintiffs only need to prove that the secret was reasonable, not absolute.
- 946 states (plus, DC, Puerto Rico and the U.S. Virgin Islands) use the UTSA. MA, NJ, NY, and TX don’t use the UTSA, but have similar standards.