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Remedies For Theft Of Trade Secrets

Remedies For Theft Of Trade Secrets

Having people you trust is of the utmost importance when it comes to your business. Unfortunately, unscrupulous employees, vendors, contractors, business partners, and other parties may misappropriate your trade secrets. When someone leaks confidential business information, it can seriously damage your business.

Trade secrets can be anything from advertising ideas to manufacturing processes, sales methods to customer lists, product formulas to software programs and more. When trade secrets have been stolen, Kurzban Kurzban Tetzeli & Pratt, P.A., can help you obtain a legal remedy.

What Does The Florida Uniform Trade Secret Act Provide?

The Florida Legislature was serious about protecting the trade secrets of Florida businesses when it adopted the Florida Uniform Trade Secret Act or FUTSA in 1988. For starters, not only is stealing trade secrets a third-degree felony but misappropriation of trade secrets give the commercial victim the right to sue for money damages for:

  • Actual financial losses
  • Unjust enrichment of the defendant
  • Alternatively, reasonable royalties
  • Exemplary or punitive damages meant to punish the wrongdoer in an amount up to twice the amount of other damages awarded, if the misappropriation was malicious and willful

In addition, the victim can ask the court:

  • For an injunction that orders the thief or wrongful possessor of misappropriated trade secrets not to use them or to stop exploiting them
  • In exceptional circumstances when the trade secret owner took material, harmful action before it knew of the misappropriation, for reasonable royalties for trade secret use
  • For a court order to take affirmative action to protect trade secrets
  • To take reasonable steps to keep trade secrets confidential during litigation like ordering the parties not to disclose proprietary information without court permission, sealing court records or holding court hearings without public access

If you have been affected by someone improperly using or sharing trade secrets belonging to your business, you want a tough team of lawyers on your side. Our attorneys are litigators and are not afraid of a challenge. We can help you find solutions.

Depending on the circumstances, you may be able to recover your legal fees.

Don’t Hesitate; Contact Us Today

If your company has suffered because someone has stolen proprietary information, it is important to act quickly. We have helped numerous businesses in the Miami area and throughout Florida. Contact our Coral Gables office today for a free consultation at 305-744-5888 or fill out our contact form.

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