Trade Secret Information Page

Patents, copyrights, and trademarks are not the only way to protect intellectual property. Many businesses elect to protect their secrets simply by maintaining the confidentiality of their information. A classic example of such trade secrets may include Coca Cola’s™ secret formula. Trade secrets can range from client lists to ways of doing business, to manufacturing techniques.

Trade secrets may be obtained and then misappropriated in many ways. Employees who quit and then start or join a competing business may abscond with a company’s trade secrets. Trade secrets may be revealed to other businesses during the course of doing business with them. In such circumstances, trade secrets may be expressly protected via written confidentiality agreements. However, this is not required. A variety of different types of relief may be available to a plaintiff that was victimized by the theft of trade secrets. Such relief may include may include an injunction, monetary compensation for the actual loss plus any unjust enrichment gained by the defendant, and if the former can’t be determined, a reasonable royalty may be awarded. If the misappropriation was willful and malicious, exemplary damages may be available. The misappropriation of a trade secret is also often grounds for a claim for Unfair Competition.

In respect to statutes of limitations, generally, an action for misappropriation of a trade secret under the UTSA must be brought within 3 years of the of the discovery of the misappropriation, or within 3 years of the date by which the misappropriation should have been discovered by exercise of reasonable diligence. [See CC §3426.6] However, there may be exceptions, and laws are constantly changing. Thus you should not rely on the general information provided herein when making decisions about your case, and instead consult with an attorney to determine what particular statutes of limitations apply, and their duration.

Relief available to a plaintiff under the UTSA may include an injunction, monetary compensation for the actual loss plus any unjust enrichment gained by the defendant, and if the former can't be determined, a reasonable royalty may be awarded. If the misappropriation was willful and malicious, exemplary damages may be available. [See CC § 3426.3(a) (regarding damages) or CC § 3426.3(b) (regarding royalties).] The misappropriation of a trade secret is also often grounds for a claim for Unfair Competition.

Whether you are a plaintiff or a defendant, it is important you are represented by experienced, competent, diligent and aggressive counsel in your Misappropriation of Trade Secret action. Look to BCB in Irvine, California to serve all of your legal needs relating to trade secrets or any other business litigation matter.

Disclaimer:

The above information is intended to provide a very brief overview of some of the issues typically encountered in aforementioned types of cases. We accept no responsibility for the accuracy of the information contained herein. The information contained herein may not reflect changes in the law, and it is necessary to analyze the specific facts of your case and applicable laws to render an appropriate legal opinion. Furthermore, nothing on this website should be construed as legal advice between an attorney and client and you should not rely on the information contained herein when making decision concerning your case. You should consult with an attorney to obtain accurate legal advice regarding your specific situation.