Both state and federal law refer to trade secret theft as misappropriation of trade secrets. This is a form of intellectual property theft that refers to the acquisition of a trade secret by improper means, such as bribery or misrepresentation.
A trade secret is generally any confidential piece of information, process, or technique that is used by a company for economic benefit and that provides a competitive edge. This includes formulas, patterns, compilations, programs, devices, techniques, and processes. While there are legal ways to obtain a competitor’s trade secrets, such as reverse engineering, there are many more illegal and unlawful methods, such as industrial espionage.
Industrial espionage is a serious problem for businesses and corporations across the Sunshine State. The Economic Espionage Act of 1996 protects businesses from misappropriation of trade secrets by making it a federal crime. Thus, when employees violate their confidentiality agreements and share trade secrets for competitive and economic gain, they can be prosecuted under federal law.
At Kelley/Uustal, we know that your company’s trade secrets are your most valuable assets and we fight aggressively to protect those assets. Every business has some type of trade secret—and those trade secrets are likely the very reasons you are successful. Misappropriation of those trade secrets is not only illegal, but also unethical and can severely jeopardize your financial future and the future of your company.
Through aggressive legal representation, our commercial contingency lawyers can seek injunctive relief, as well as damages. Through injunctive relief, the court can order the defendant to stop violating your trade secret rights and take the steps necessary to preserve the secrecy of that information.
We can also seek to recover damages from the misappropriation of those trade secrets. This could include any economic harm that was suffered as a result of the trade secret violation. This often includes your financial losses and attorney fees, as well as the profits the defendant derived from those trade secrets. The court may also choose to award the plaintiff punitive damages in an amount up to twice its actual damages.
Your trade secrets are the lifeblood of your company. You need a law firm that will take the necessary steps to hold trade secret thieves accountable for their actions and ensure that the confidentiality of those trade secrets is protected. Time is of the essence, however. There are time limits within which a claim must be brought.
Commercial Contingency Law Firm
The business litigation attorneys at Kelley/Uustal have the resources necessary to succeed in even the most complex trade secret disputes. Trade secret misappropriation lawsuits often end up in court. As such, we prepare every case as if it is going to trial. You can rest assured knowing that you are being represented by successful trial attorneys, who have the skills and experience needed to win the tough courtroom battles against even the largest corporations. If you are in need of a commercial litigation attorney, contact us or call us at (954) 522-6601. We are here to answer all your questions, protect your business, and help you pursue justice.