What is a trade secret misappropriation?
Trade secret misappropriation is a form of Intellectual Property Law in California. It occurs when someone unlawfully acquires, uses, or discloses confidential information owned by another entity. Trade secrets are forms of information that are secret, have economic value, and are subject to reasonable efforts to keep them secret. Examples of types of trade secrets are formulas, processes, designs, techniques, customer lists, or anything else that is confidential and has economic value. Misappropriation is the unauthorized use of a trade secret. Even with just a small part of the information, there can be a misappropriation. If trade secrets are misappropriated, the person or business responsible for the misappropriation can be held liable for damages. Damages may include the owner’s actual losses due to the misappropriation, any profits made by the party responsible for the misappropriation, or certain other losses. California has laws that protect trade secrets from misappropriation. This is known as the California Uniform Trade Secrets Act (CUTSA). CUTSA states that every business, employee, and person in California must keep trade secrets confidential and protect them from being stolen, given away, or used without permission. Therefore, trade secret misappropriation is an intentional or careless use or disclosure of confidential information, which is owned by another Texas business or individual, without their knowledge or permission. It is against California law and can lead to legal consequences.
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