The Uniform Trade Secrets Act (UTSA) was established to prevent the theft of trade secrets from businesses and corporations. Under the Uniform Trade Secrets Act, nearly every U.S. state and the District of Colombia is protected against trade secret theft. The states not protected under the act are Massachusetts, New Jersey, New York, Pennsylvania, Tennessee, Texas and Wyoming. These states follow common law principles that are similar to the principles established in the UTSA.
According to the laws established by the Uniform Trade Secrets Act, you are entitled to file a lawsuit against anyone who has obtained your trade secret(s), in order to prevent the dissemination of your valuable business disclosures. If someone has stolen or illegally obtained your business' trade secret(s), then you may be entitled to financial damages.
If you own a franchise in New Jersey, and you need to file a lawsuit under the Uniform Trade Secrets Act, or you need to pursue financial damages, you can consult with a Monmouth franchise lawyer. Definitions under the Uniform Trade Secrets Act (UTSA) Some of the significant terms of the Uniform Trade Secrets Act are as follows:
Improper means- this includes theft, bribery, misrepresentation, breach (or the inducement of a breach of duty to maintain secrecy) or espionage through electronic or other means, in order to obtain someone's trade secret(s).
Misappropriation - this is the acquisition of another's trade secret by a person who knows or has reason to know that the trade secret was acquired improperly. This also can include the disclosure or use of a trade secret of another without specific or implied consent by the owner of the secret.
Trade secret- this refers to information, including a formula, pattern, compilation, program device, method, technique or process that (1) derives independent economic value, actual or potential, and is generally not known by other persons who can obtain financial value from the use or disclosure, and (2) is the subject of efforts to be kept a secret.
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and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. Further you acknowledge that any and all citations to cases and statutes must be independently verified by competent legal counsel to confirm the validity and accuracy of such information. The content of this site is subject to the Copyright of its author and owner, Charles N. Internicola, Esq.
