What is an infringement of trade secret law?

An infringement of trade secret law is when someone reveals or shares a secret about a company’s business that was not meant to be public knowledge. A trade secret is something the company keeps confidential to give it an advantage over its competitors. In South Carolina, trade secret laws set out a way for companies to protect their confidential information from being released without permission. Whenever someone releases information that is considered a trade secret, they could be found guilty of an infringement of trade secret law. The person would be liable, meaning they could face penalties or financial damages. The company whose trade secret was infringed upon could sue the person releasing the information for a breach of contract. This could include a restraining order so that the person stops sharing the trade secret. Trade secret law is important because it helps companies protect their competitive edge and it prevents employees from sharing valuable information with competitors. It is also important for protecting companies from fraud and theft. Without trade secret law, companies would be vulnerable to competitors gaining access to confidential information.

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