Trade secret protection is a must for virtually any business. It's most often not addressed until an employee or competitor obtains and uses against you valueable secret information, thereby stealing your sales, customers, technology base, damaging financial information, or other. Trade secret law prevents misappropriation, wrongful taking, of trade secret information. A wrongful taking can occur in a variety of manners. Control of the information can be recovered along with payment of damages.
Criminal penalties are available in cases of theft.
Trade secret laws are state granted rights. Minnesota, along with most other states, has adopted the Uniform Trade Secret Act. These frequently asked questions follow the Uniform Trade Secret Act. The UTSA has been adopted by 38 jurisdictions. Inc. All Rights Reserved.