What is a trade secret misappropriation?

Trade secret misappropriation is a violation of intellectual property law in Michigan. It occurs when a person or entity illegally obtains and uses another person or entity’s trade secret. Trade secrets are pieces of confidential information that are valuable to an individual or business and can include things like formulas, practices, processes, designs, devices, techniques, customer lists, or other information not generally known in the public domain. A trade secret misappropriation can occur in a variety of ways such as theft of physical documents, reverse engineering by another company, or through electronic means like hacking. A person or entity can also be held liable if they improperly use information they should have known was a trade secret. It is important to note that a trade secret misappropriation is not limited to theft and any unauthorized copying, use, or disclosure of a trade secret can lead to a misappropriation. In order to prevent trade secret misappropriations, businesses in Michigan should have policies and procedures in place to protect their trade secrets. It is important to keep trade secrets confidential, restricted, and secure. In the event a misappropriation does occur, a business should act quickly to identify the misappropriation and contact an attorney to discuss their legal options.

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What is a trade secret misappropriation?

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