The Internicola Law Firm, P.C.

Can I apply for a trade secret?

A trade secret may be defined as classified business information that derives (or may derive) economic value. This may be a formula, a recipe, a pattern, a program device, a method, a technique, or a process, which is kept a secret to preserve its economic value. For instance, the recipe for Coca-Cola is considered a trade secret.

However, unlike patents and trademarks, a trade secret can not be applied for or registered in the United States. Nor can a trade secret be awarded or granted the same way that a patent would be granted. Trade secrets are, however, protected under U.S. law, by legislation that is commonly known as the Uniform Trade Secrets Act (UTSA).

Under the Uniform Trade Secrets Act, anyone who steals, misappropriates, or unlawfully obtains a trade secret may face legal consequences. Under the act, misappropriation is defined as: 

The acquisition of a trade secret of another by a person who knows or has reason to know that the trade secret was acquired by improper means; or disclosure or use of a trade secret of another without express or implied consent...

The consequences for a violation of the Uniform Trades Secrets Act may include a maximum fine of $500,000 and up to 15 years in prison.

To take legal action against the theft of your trade secret(s) in New Jersey, you can get the professional help of a Monmouth franchise lawyer. A Monmouth franchise lawyer can represent your legal interests in a formal court of law.  

Contacting a Monmouth Franchise Lawyer

If you are an entrepreneur who is interested in franchising your business there is a lot you need to know, including the significance of evaluating your trademark and how to approach the preparation of your FDD. For a limited time, get Monmouth franchise attorney Charles N. Internicola, Esq's franchise law report to determine whether or not your business is right for franchising. Contact us today at 1-800-976-4904 for more information about Mr. Internicola's franchise law services in New Jersey and how he assists entrepreneurs franchise their business nationwide.