Protecting Trade Secrets in the Hiring and Firing Process
Craig Johnson - Kutak Rock LLP
June 19, 2006
Virtually any information that is kept secret and is considered to be of value may constitute a trade secret. This includes not only scientific and technical data, but also marketing strategies, product formulas, customer lists, pricing or financial information or other information used in business. To protect such information, the Uniform Trade Secrets Act, which has been adopted in most states, provides for money damages and injunctive relief for the unauthorized disclosure or use of trade secrets, as well as the unauthorized acquisition of trade secrets where such information was acquired by improper means. Further, the federal Economic Espionage Act, 18 U.S.C. Section 1831, provides criminal penalties for theft of trade secrets affecting interstate commerce.
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