A trade secret can be defined as business information that derives independent economic value. A trade secret is something that is meant to stay undisclosed. When a trade secret is leaked‚ other people could potentially benefit from its financial value.
This is why a trade secret is usually considered to be classified information. A trade secret may be a formula‚ recipe‚ process‚ specific product design or other business information that is not public knowledge. Because trade secrets provide economic benefit to a business or a corporation‚ they are protected by the Uniform Trade Secrets Act.
Under the Uniform Trade Secrets Act‚ anyone who steals‚ misappropriates or unlawfully disseminates a trade secret may be punished under U.S. law. What this means is that if someone has stolen or misappropriated your classified business information‚ then you may choose to file a lawsuit and pursue financial damages. Under the Uniform Trade Secrets Act‚ a violation may be punishable by fines of up to $500‚000 or imprisonment of up to 15 years.
To take legal action against the theft of your trade secret(s) in New Jersey‚ you can seek help from a Monmouth franchise lawyer. A Monmouth franchise lawyer can represent your legal interests in a formal court of law‚ when necessary.
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.
Date: 11/21/2010 | Category: Start a Franchise
With services to make your growth strategy simple, cost effective, and with a team excited to help you, let’s talk about how we can help grow your business.
Fill out the following form and we’ll contact you as soon as possible. To reach our team directly, give us a call at (800) 976-4904.