Understanding Your Remedies for Misappropriation of Trade Secrets
Trade secrets are among the most valuable possessions of any business — and perhaps the most important to protect.
The Arizona Uniform Trade Secrets Act (AUTSA) mirrors, for the most part, the Federal Uniform Trade Secrets Act. Both laws prohibit misappropriation of trade secrets and detail the remedies available to persons whose rights are violated under the law. A skilled business tort attorney with experience in trade secret litigation can assist you with threading through the process of making a claim for misappropriation of a trade secret.
Should your trade secret be misappropriated, you may be able to seek and receive the following:
- An injunction. Forcing a defendant to cease action is an effective means of enforcing rights to your trade secret. A court can take steps to preserve the confidentiality of your trade secret and can order an offending party to cease publication of trade secrets achieved via misappropriation.
- An award of damages. An offending party may be ordered to pay monetary damages for the harm you suffered because of misappropriation of your trade secret. Actual losses, as well as punitive damages of up to two times actual damages, may be awarded depending on the circumstances.
- Fees of attorneys. A court may also award attorney fees when a trade secret is misappropriated in a willful or malicious manner, or in the event of a showing of bad faith on the part of either party.
An experienced attorney at Heurlin Sherlock can examine the facts of your situation and is happy to explain all aspects of trade secret litigation to you.