Trade Secret Litigation
As a business owner in the Sunshine State, you probably rely on many forms of intellectual property law to protect your company. These might include laws concerning copyright, trademark, and patent. Another important form of intellectual property is trade secrets. Trade secret litigation is often times a contentious and intense area of business litigation. The business or employer usually feels angry and betrayed, so there is a certain degree of heightened hostility. Conversely, those accused of trade secret theft feel unfairly accused or prosecuted and may be worried about their livelihood and the ability to earn a living.
A trade secret may consist of any formula, pattern, device, or compilation of information which is used in one’s business, and which gives him or her an opportunity to obtain an advantage over competitors who do not know or use it. It may be a formula for chemical compound, a process of manufacturing, treating or preserving materials, a pattern for a machine or other device, or a list of customers…
One significant limitation on the definition of a trade secret is that it must relate to the continuing operation of a business. The following factors are customarily considered in determining the existence of a trade secret:
- The extent to which the information is known by employees and other involved in the business;
- The extent to which the information is known outside the business;
- The extent of measures taken by the employer to guard the secrecy of the information;
- The value of the information to the employer and to his or her competitors;
- The amount and effort or finances expended by the employer in developing the information; and
- The ease or difficulty with which the information could be properly acquired or duplicated by others.
If you have a trade secret issue, then call the Law Office of Nnamdi S. Jackson today for a free consultation.