What is the difference between trade secrets and trade secrets infringement?

Trade secrets law in Virginia is designed to protect businesses from the theft or misuse of valuable information and ideas. Trade secrets refer to any information, formulas, processes, programs, devices, methods, techniques, or compilations of information that are kept secret and give the owner an economic advantage over competitors. Trade secrets infringement occurs when someone tries to steal or use this information without the owner’s permission. Examples of trade secrets include manufacturing processes, customer lists, recipes, financial information, marketing plans, and research or development information. Trade secrets infringement involves deliberately misusing or disclosing trade secrets in a manner that causes harm to the owner. It can include stealing trade secrets, illegally obtaining confidential information, or using a trade secret in a way that violates the terms of a non-disclosure agreement. Trade secrets infringement is a serious form of intellectual property theft that can have severe legal and financial consequences for the perpetrator. A company found to have infringed on trade secrets can be liable for damages, including prospective lost profits, disgorgement of any profits made through the misappropriation of the trade secret, and any costs associated with defending the case. In some cases, there can even be criminal penalties for trade secrets infringement.

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What is the difference between trade secrets and trade secrets infringement?

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