What is trade secret misappropriation?

Trade secret misappropriation is the illegal acquisition or use of another person or business’s trade secret information. Trade secrets are classified as confidential business or commercial information and can include formulas, patterns, processes, programs, or devices. The law in Massachusetts aims to protect these trade secrets from being acquired or used without permission, as it can cause significant financial harm to the owner of the information. Trade secret misappropriation is an illegal or tortious act. This means that the unauthorized use or acquisition of a trade secret could result in civil action being taken against the person or business that misappropriated the information. The law in Massachusetts sets out a few different types of remedies for someone who is subject to or suffers from trade secret misappropriation. Civil remedies may include compensatory damages, punitive damages, or injunctive relief. Compensatory damages are payments that are awarded to remedy the economic harm suffered by the trade secret holder due to the misappropriation. Punitive damages are a form of punishment against the misappropriator, and are awarded as a deterrent for other misappropriations and to punish those who have already misappropriated. Lastly, injunctive relief involves an order from a court to stop the misappropriator from continuing to use or disclose the trade secret information. Trade secret misappropriation is an illegal and serious offense in Massachusetts, so it is important to understand what constitutes misappropriation and what remedies a person or business can pursue if they are subject to it.

Related FAQs

Is it possible to protect trade secrets with a public disclosure?
What are the requirements for trade secret protection in the European Union?
Is trade secret law different from patent law?
Can trade secrets be protected through contracts?
What type of information is not protected by trade secret law?
How do you determine whether information is a trade secret?
Is there a difference between a trade secret and a trademark?
What type of information can be protected under trade secret law?
What is the law on trade secrets in India?
Does the use of a non-disclosure agreement protect trade secrets?

What is trade secret misappropriation?

Related FAQs

Related Blog Posts