Complaint - Trade Secrets - Misappropriation by Former Employee and Prospective Purchaser - Breach of fiduciary duty
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FAQ
For example, in California it is a crime to acquire, disclose or use trade secrets without authorization. Violators may be fined up to $5,000, sentenced to up to one year in jail, or both. Under Cal. Penal Code Section 499(c), trade secret theft is categorized as essentially a form of larceny.
Under the Uniform Trade Secrets Act (UTSA), a trade secret is defined as information that derives independent economic value because it is not generally known or readily ascertainable, and it is the subject of efforts to maintain secrecy.
A trade secret is something used in a company's business that (a) is not known or readily accessible by competitors, (b) has commercial value or that provides a competitive advantage in the marketplace, and (c) the owner of the information protects from disclosure through reasonable efforts to maintain its secrecy.
Popular examples of trade secrets include the recipe for Coca-Cola and the formula for WD-40. Trade secrets may also include items that a person or company has not chosen to patent yet, such as a new plant hybrid or mechanical invention.