Trade Secret Fundamentals

Summary

This practice note provides an overview of key trade secret law principles, including applicable law (both state and federal), the requirements for trade secret protection (i.e., actual secrecy, reasonable efforts to prevent disclosure, independent economic value), limitations on trade secret protection (e.g., independent development, statutes of limitations), ownership, trade secret misappropriation (by wrongful use, disclosure, or acquisition), standing to sue for misappropriation, and remedies.