Uniform Trade Secrets Act (UTSA) (Part B)

Penalties under the Uniform Trade Secrets Act (UTSA)

Under the Uniform Trade Secrets Act, those who may be penalized include:

• the person who stole or leaked a trade secret, even if they do not benefit monetarily in a direct way;
• the person who conspired to receive a stolen trade secret; and
• anyone who exchanges a misappropriated trade secret with a foreign country, where the foreign power gains a benefit from the acquisition of the secret.

Under the Uniform Trade Secrets Act, violating parties will be subject to punishment by fines of up to $500,000 or imprisonment of up to 15 years.

Protection under UTSA

When legal action is taken under the Uniform Trade Secrets Act, the court will preserve the secrecy of your business' information. To do so, they may grant protective orders during the discovery proceedings, seal the records of the action and order any persons involved in the lawsuit not to disclose trade secrets without the court's approval.

The Statute of Limitations for UTSA

To pursue legal action under the Uniform Trade Secrets Act, an action must be brought within 3 years after the violation is discovered (or should have been discovered by the exercise of reasonable diligence).

How a Monmouth Franchise Lawyer Can Help

If your trade secret has been stolen, and you would like to take action under the Uniform Trade Secrets Act, then a Monmouth franchise lawyer can represent your legal interests. In a lawsuit, a Monmouth franchise lawyer can do their best to prevent the further dissemination of your valuable trade secrets, and, if necessary, seek to penalize the perpetrators to the fullest extent of the 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 lawyer 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.

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