Kentucky Complaint - Trade Secrets - Misappropriation by Former Employee and Prospective Purchaser - Breach of fiduciary duty
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FAQ
For the first time, the DTSA gives American companies the opportunity to protect against and remedy misappropriation of important propriety information in federal court. Businesses should be aware of the salient provisions of the DTSA discussed below in order to adequately prepare to employ the protections of the DTSA.
"Trade secret" means any method, technique, process, formula, program, design, or other information that can be used in the course of production, sales, or operations that can also meet the following three requirements: (1) it is not known to persons generally involved in the information of this type; (2) it has actual ...
Trade secret misappropriation occurs when a trade secret has been wrongfully taken or disclosed without consent. A trade secret is defined as information (1) that derives independent economic value from not being generally known, and (2) which has been the subject of reasonable efforts to be kept a secret.
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.
The inevitable disclosure doctrine permits courts to administer injunctions and permanent injunctive relief to stop an employee from working with a competitor where the employee's new job duties will reveal the former employer's trade secret or cause the employee to rely upon the former employer's trade secret.
A trade secret: is information that has either actual or potential independent economic value by virtue of not being generally known, has value to others who cannot legitimately obtain the information, and. is subject to reasonable efforts to maintain its secrecy.
In general, to qualify as a trade secret, the information must be: commercially valuable because it is secret, be known only to a limited group of persons, and.
Kentucky law protects such so-called ?trade secrets? from misappropriation, or theft, by others. All types of technical, financial, and business information (including client lists, formulas, techniques, methods, patterns, programs or processes) may be the subject of trade secret protection.