Anyone involved in the business world in Arizona is probably familiar with the basic concept of trade secrets. If you believe that you have material that is essential to the success of your business that needs to be protected, you may take certain steps in order to shield it from exposure by classifying it as a trade secret. Continue reading Trade Secret Theft and Filing a Lawsuit: What You Need to Know to find out more.
Trade Secrets and Your Business
As a business owner, you may have special information that falls under the category of trade secrets. Unfortunately, it is very unlikely that you’re able to keep this material entirely to yourself. Often, you need to provide the information to employees or contractors. In some situations, despite your best efforts, a former employee another individual who had access or who can gain access to trade secret material may ultimately use it in a way that harms you or your business. If this happens to you, it’s a wise idea to set up a consultation with a knowledgeable Arizona business litigation attorney. You may have grounds to file a suit against this other person for an injunction to prevent continued misappropriation of a trade secret or for damages for use of your confidential information.
Taking Trade Secrets to Litigation
In order to win a lawsuit against another individual related to misappropriation of trade secrets, the burden of proof falls on the plaintiff to demonstrate that a trade secret existed, and that information serving as trade secrets was used by the defendant to ultimately harm the plaintiff. The court will consider numerous factors in determining whether these basic elements are present, such as:
Did the plaintiff have valuable information that was valuable because it is not “generally known”?
Has the trade secret reached the public domain and through what channels?
How much money, value, time and labor were exerted in developing this trade secret?
Has the company in question maintained a continuing and conscious effort to maintain secrecy of this information?
What is the value of the secret for the company?
In any situation where you intend to allege that another individual misappropriated trade secrets, you need to have a knowledgeable Arizona business litigation attorney help you craft your case. These cases can be extremely complex and obviously involve important material necessary for the success of your business. You should only work with an attorney who has handled cases like this before.
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice regarding Trade Secret Theft, or any other litigation matter, please feel free to contact us at 480.461.5300, log on to udallshumway.com, or contact an attorney in your area. Udall Shumway PLC is located in Mesa, Arizona and is a full service law firm. We assist Individuals, families, businesses, schools and municipalities in Mesa and the Phoenix/East Valley.