What is a trade secret misappropriation?
Trade secret misappropriation is a form of intellectual property infringement that occurs when a trade secret is wrongfully disclosed or acquired. A trade secret is confidential information or a formula, process, device, or other business information that is kept secret by an individual or company and gives them an advantage in the marketplace. In Washington, trade secret misappropriation is prohibited and punishable under the Washington Trade Secrets Act. According to this act, it is illegal and against the public policy of the state of Washington to acquire or use a trade secret that you know or have reason to know was acquired by improper means. It is also illegal to disclose, use, or attempt to use a trade secret without proper authorization. There are two types of misappropriation of trade secrets: (1) acquisition by improper means and (2) disclosure or use without proper authorization. Acquisition by improper means occurs when a person acquires a trade secret by fraud, bribery, misrepresentation, or other unlawful means, or acquires a trade secret from someone who improperly acquired it. Disclosure or use without proper authorization may occur when someone improperly discloses a trade secret to third parties or uses the trade secret without authorization. The individuals or companies violating the Washington Trade Secrets Act may be liable for compensating the rightful owner of the trade secret, fees and expenses incurred by the trade secret owner, and other damages. In addition, violators may face criminal charges and a potential prison sentence.
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