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Theft of Trade Secrets: Misappropriation
Trade secrets must be protected and kept confidential at all costs for the sake of the company. It could be a special ingredient or mix for their food product, or a special technique for a service they provide.
We at the Law Office of Robert Eckard recognize the importance of helping your business remain secure and safe. That is why we provide legal services that will protect you from the risk of trade secret theft.
What are Trade Secrets?
A “trade secret” refers to information, such as a pattern, formula, program, device, method, technique, process, etc. that can have economic value for its disclosure. Efforts are being made by the company to maintain its secrecy.
Theft of trade secrets occurs when somebody uses information about the business that is considered confidential but without proper authorization.
Misappropriation, meanwhile, is when a person acquires a trade secret or information knowing full well that the same was acquired illegally. Here, the recipient of the information is also liable and accountable because they knew, at the very least, about the possibility that it was a trade secret.
How to Protect from Theft of Trade Secrets?
A Tampa business litigation attorney can help you set up stipulations and guidelines that will protect the best interests of your company.
You can get patent protection for trade secrets, and a Tampa trade secrets attorney can help you with that. It would also help to limit the number of people with knowledge of and access to trade secrets.
Having the pertinent individuals sign confidentiality agreements is also a great way to add another layer of protection for your company’s trade secrets.
What to Do in Case of Trade Secrets Theft
In case your business trade secrets are stolen, or misappropriated, seek the help of a Tampa Trade Secret Misappropriation Attorney. The sooner you act, the better you can mitigate the damage to your company.
By filing a suit, you can receive compensation for damages, which can include the actual loss resulting from the misappropriation, as well as the value of the perpetrator’s unjust enrichment. There are various ways to go about this computation, so it’s better to consult with your lawyer on the best approach.