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Uniform Trade Secrets Act
From Wikipedia, the free encyclopedia
The Uniform Trade Secrets Act is a model law drafted by the National Conference of Commissioners on Uniform State Laws to better define rights and remedies of common law trade secret.
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The act defines a trade secret as information, including a formula, pattern, compilation, program device, method, technique, or process, that:
(i) derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and
(ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
It is wrongful use of a trade secret. Which could be knowingly acquiring it through improper means or disclosing it without consent.
The act outlines a number of remedies for misappropriation of trade secrets including injunctions, damages, and attorney's fees.
The act also permits courts to grant protective orders to ensure the secrecy of a trade secret during discovery and to prevent disclosure by witnesses. In addition, the act authorized in camera hearings to take testimony.