Chapter 9 Intellectual Property October 27th 2014 9 3 Trade Secrets Learning Objectives Understand what a trade secret is Learn the differences between trade secret and patent protection Learn how trade secrets may be lawfully discovered Explore the concept of misappropriation and the legal consequences Trade Secrets Anything of value a company takes reasonable steps to protect from disclosure Can last forever If someone uses lawful means to uncover the secret then the secret is no longer protected by the secret s owners o Include a process formula pattern program device method technique or compilation Information derives actual or potential economic value from being a secret Uniform Trade Secrets Act UTSA While most states have adopted the Uniform Trade Secrets Act UTSA not all have so the definition of trade secret can vary by jurisdiction o Uniform trade Secrets Act UTSA Model law to protect trade secrets adopted by over forty states o Ohio has adopted this Federal law does not protect trade secrets Misappropriation Claim for misappropriation will be brought when a trade secret has been wrongfully obtained such as through corporate espionage or bribery o Misappropriation Appropriating wrongly or without justification Damages will include actual loss and unjust enrichment not captured by actual loss In cases of willful or malicious misappropriation double damages may be awarded and attorney s fees
View Full Document
Unlocking...