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See § 688.003, Florida Statute. If a company's or person's trade secrets are misappropriated in violation of FUTSA, the injured party may be entitled to damages. In cases of ?willful and malicious misappropriation,? the injured party may recover exemplary damages and attorney's fees.
In Florida, a trade secret is defined as information, including a formula, pattern, compilation, program, device, method, technique, or process that (1) derives independent economic value from not being generally known to and not readily ascertainable by others who can obtain economic value from its disclosure or use ... Trade Secret Litigation - Mavrick Law Firm Mavrick Law Firm ? Practice Areas Mavrick Law Firm ? Practice Areas
Florida's Trade Secrets Law Derives potential or actual independent economic value from not being generally known by others who could obtain economic value from its use or disclosure. Is the subject of efforts considered reasonable under the circumstance to maintain its secrecy.
The statute defines a ?trade secret? as ?[i]nformation, including a formula, pattern, compilation, program, device, method, technique, or process that: (a) Derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons ...
Trade secrets encompass both technical information, such as information concerning manufacturing processes, experimental research data, software algorithms and commercial information such as distribution methods, list of suppliers and clients, and advertising strategies. Frequently Asked Questions on Trade Secrets - WIPO wipo.int ? tradesecrets ? tradesecrets_faqs wipo.int ? tradesecrets ? tradesecrets_faqs
In general, a trade secret has three parts: (1) information (2) economic value from not being generally known by others, and (3) reasonable efforts have been taken to protect the trade secret. Trade Secrets Lawyer - New York City Bar Association nycbar.org ? article ? intellectual-property nycbar.org ? article ? intellectual-property
To be legally considered a trade secret in the United States, a company must make a reasonable effort in concealing the information from the public; the secret must intrinsically have economic value, and the trade secret must contain information. Trade secrets are a part of a company's intellectual property. Trade Secret: Definition, Examples, Laws, Vs. Patent - Investopedia investopedia.com ? terms ? trade-secret investopedia.com ? terms ? trade-secret