New Jersey Complaint - Trade Secrets - Misappropriation by Former Employee and Prospective Purchaser - Breach of fiduciary duty
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FAQ
The DTSA offers a protection for employees who blow the whistle, granting them immunity from criminal or civil liability under federal or state trade secret laws. This immunity applies when a trade secret is disclosed confidentially to an attorney or a government official at the federal, state, or local level.
secret defendant's best strategy is to show it only used its own or public information. Independent development is a complete defense to misappropriation because it destroys the plaintiff's third required showing.
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.
The New Jersey Trade Secrets Act defines trade secrets broadly as ?information, held by one or more people, without regard to form, including a formula, pattern, business data compilation, program, device, method, technique, design, diagram, drawing, invention, plan, procedure, or process, that: derives independent ...
The Defend Trade Secrets Act allows an employer to sue a former or current employer in a private lawsuit for misappropriating trade secrets in the interest commerce or business.
Plaintiffs' claim for breach of the Defendants' fiduciary duty is governed by a six-year statute of limitations pursuant to N.J. Stat. Ann. § 2A:14-1.
Electronic or other types of business espionage also constitutes ?misappropriation? under the New Jersey Trade Secrets Act. Unlike a patent, a trade secret is protected as long as it is still a secret, provided the company makes reasonable efforts to keep it secret.
The elements of a DTSA claim: ? The plaintiff owned a trade secret; ? The defendant misappropriated the trade secret; and ? The defendant's actions damaged or will damage the plaintiff. by, another person who can obtain economic value from the disclosure or use of the information.