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A trade secret claim occurs when a defendant obtains or publishes a company’s trade secrets. If a court finds that a defendant has misappropriated a plaintiff’s trade secrets, it may impose a number of damages or remedies for the plaintiff. Second, a court can make a defendant pay money damages to the plaintiff for the economic harm suffered because of a trade secret violation.
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The misappropriation of trade secrets is illegal in many countries, although the law against it first appeared in England in 1817 and the USA in 1837.
In order to go about protecting trade secrets, a company must first identity what each and every one is. The best way to protect any trade secrets is to educate all employees and personnel as to the importance of said secrets. If an employee shares a company’s trade secrets despite the fact that their contract or confidentiality agreement specifically forbids it, the company may then be able to sue them.
In the UK, misappropriation of trade secrets is punishable by two years in prison or a fine. A company could feasibly take a former employee to court for trade secret misappropriation.
A solicitor specialising in employment law will be able to represent a business with this kind of claim. Unfortunately, not all law firms have the funds available to bring cases such as these to court, but the winnings could be substantial. The sharing of trade secrets can be devastating to businesses, but they can always take action by bringing charges against the guilty party. This article was written on behalf of Vannin Capital, a company specialising in litigation funding. Peter Christopher is the Editor to Finance care Guide and a guest columnist for many blogs that deals with financial issues. The law firm of Gertner Mandel has experienced Intellectual Property attorneys representing clients around the world for Copyrights, Patents, Trademarks & Unfair Competition.

Our trade secret attorneys have represented entrepreneurs and businesses for the the unauthorized use and disclosure of their trade secrets.
If your business has product design trade secrets, software trade secrets, technology trade secrets, or types of trade secrets, ita€™s important to secure the trade secret protection of your business solutions. Trade secret protection is available to protect technology that cannot be discovered by reverse engineering a product.
It is vitally important that you quickly take measures to stop what you believe is a misappropriation of your trade secrets.
The company may then file a lawsuit against the defendant for trade secret misappropriation. It may include formulas, plans, designs, patterns, supplier lists, customer lists, financial data, personnel information, physical devices, processes, and computer software. One common defense is that what the defendant published was not a secret because it was already generally known or easily ascertainable to the public. If the defendant discovered the trade secret legally such as by independent invention or accidental disclosure it is not misappropriation. If you believe that, you are a victim of the misappropriation of your trade secrets or your company’s trade secrets then contact the experienced attorneys at Dinn Hochman & Potter, LLC to evaluate your case. Whether it’s particular practices, information, recipes or designs, trade secrets are a must-have foundation in business. When trade secrets are shared they can give a company’s competitors a chance to exceed them, causing serious issues.
In accordance with Title 18 of the United States Code, the maximum penalty for this crime is a 10 year prison sentence and a $500,000 fine. For instance, the American company DuPont won a case against the South-Korean company Kolon after trade secrets concerning the exact fibres used in Kevlar body armour were illegally shared. In this instance the law firm may wish to apply for litigation funding in order to ensure they could finance the case.
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The classic example of trade secret protection is the process for manufacturing Coca-Cola®.
A trade secret is information not available to the public that confers a competitive business advantage on its owner by virtue of not being public to its competitors.

Another defense is that the trade secret failed to generate any economic value to the defendant.
In addition, a court may award royalty fees if the invention has been in the stream of commerce for a while. In addition, the information provided is often based on general principals of law and may be accurate in one jurisdiction, but not accurate in another. Such steps to protect your trade secrets include limiting access to the information within the company, ensuring that employees or non-employees with access to the information have signed non-disclosure agreements and not making the information publicly available. If you think that someone has left your employ with trade secret material, such as technical product information or your customer list, you need to move quickly to court to stop the misappropriation before great harm is done to your company.
When the defendant obtains a trade secret improperly, or publishes it, knowing that someone else acquired it improperly, the defendant has misappropriated the trade secret.
If the defendant received no economic advantage over its competitors using the trade secret then it might be a defense to the tort. This website is not offered for the purposes of providing individualized or unique legal advice and in no way is meant to form an attorney-client relationship with its readers. However, unlike patents, trade secrets cannot be enforced against competitors who independently develop the same or similar technology. A third defense is that the plaintiff and owner of the secret did not take reasonable steps to maintain its secrecy.
If you believe that this site contains any factual inaccuracies, false, disparaging, slanderous, libelous, defamatory, or other information that violates your copyrights, trademarks, or other intellectual property rights or privacy rights of any kind, please contact the webmaster about revising or removing the content. If the plaintiff failed to take any affirmative steps to protect the trade secret then the defendant may have a defense for using it. The author of this site provides all information on this site on an “AS IS” basis without warranty of any kind and disclaims any liability for damages from use of this website or its content.
Information should not be construed to mean that certain results are typical or will occur in a similar situation.

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