Trade Secrets & Non-Competition Agreements
Business Litigation: Misappropriation of Trade Secrets
A trade secret is any formula, pattern, device, or compilation of information, which is used in one’s business and presents an opportunity to obtain an advantage over competitors who do not know or use it. Customer lists, pricing information, client information, customer preferences, buyer contacts, blueprints, market strategies, and drawings have all been recognized as trade secrets.
A business can recover for misappropriation of a trade secret by establishing: (1) a trade secret existed; (2) the trade secret was acquired through a breach of a confidential relationship or was discovered by improper means; (3) someone used the trade secret without the business’s authorization; and (4) the business suffered damages as a result.
Do you believe someone improperly took or disclosed your trade secrets? Or, have you been accused by another business as having improperly taken or disclosed its trade secrets? Are there written agreements involved that may limit competition? Does the law recognize a remedy, and if so, what remedies are available? Are damages an available remedy? Is an injunction appropriate? What can you do?
The Dietrich Law Firm has experience representing people and businesses in court concerning trade secret claims. If you or your business has a trade secret dispute, The Dietrich Law Firm may be able to help. Give us a call to schedule an appointment. Although the firm only represents clients based upon a signed, written agreement, we do offer a free, initial, in-office consultation.