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Misappropriation of Trade Secrets
July 21, 2023
Imagine your business, fueled by unique practices and proprietary knowledge that has propelled you ahead of your competition. Now, consider the impact of these trade secrets were misappropriated. In Florida, as a Tampa Bay business owner, the law is on your side. Understanding the repercussions and protective measures against trade secret misappropriation can protect your enterprise’s competitive edge.
Understanding Trade Secrets
Trade secrets, according to Florida’s Section 812.081(2), encompass vital information including, but not limited to, formulae, practices, and client data. Misappropriation of trade secrets includes unauthorized actions such as theft, embezzlement, or unauthorized duplication of an article embodying a trade secret.
Penalties for trade secret misappropriation in Florida are severe. Guilty parties may face a third-degree felony charge, punishable by up to five years in prison and a $5,000 fine.
Importantly, returning or intending to return the stolen article is not a recognized defense under Florida law.
Protect Your Trade Secrets With Our Help
The complexities of trade secret misappropriation can be daunting, but you don’t have to face it alone. Our experienced team of Tampa Bay business lawyers specializes in defending individuals and businesses facing legal action related to trade secret misappropriation. We understand the nuances of the law and tailor a defense strategy specifically to safeguard your interests.
We assist businesses in implementing protective measures to prevent trade secret misappropriation and provide skilled representation when misappropriation occurs. Our deep knowledge of Florida’s laws, regulations, and court proceedings ensures your business remains protected, allowing you to focus on what you do best: running your business.
Don’t let trade secret misappropriation disrupt your business operations and diminish your competitive advantage. Contact The Law Office of Robert Eckard & Associates P.A. today. Together, we can ensure your business’s proprietary knowledge remains just that – secret.