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The Uniform Trade Secrets Act is a model law drafted by the National Conference of Commissioners on Uniform State Laws to better define rights and remedies of common law trade secret. The National Conference of Commissioners on Uniform State Laws (NCCUSL) is a non-profit unincorporated association in the United States that consists of commissioners appointed by each state and territory. ...
This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ...
A trade secret is a formula, practice, process, design, instrument, pattern, or compilation of information used by a business to obtain an advantage over competitors within the same industry or profession. ...
Definition of trade secret
The act defines a trade secret as information, including a formula, pattern, compilation, program device, method, technique, or process, that:
(i) derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and
(ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
Misappropriation Misappropriation is the wrongful use of a trade secret, which could be a) knowingly acquiring the secret through improper means or b) disclosing the secret without consent.
Remedies The act outlines a number of remedies for misappropriation of trade secrets including injunctions, damages, and attorney's fees. Look up Injunction in Wiktionary, the free dictionary. ...
In law, damages refers to the money paid or awarded to a claimant (as it is known in the UK) or plaintiff (in the US) following their successful claim in a civil action. ...
Attorneys fees or attorneys fees are the costs of legal representation that an attorneys client or a party to a lawsuit incurs. ...
Preservation of secrecy The act also permits courts to grant protective orders to ensure the secrecy of a trade secret during discovery and to prevent disclosure by witnesses. In addition, the act authorized in camera hearings to take testimony. In law, discovery is the pre-trial phase in a lawsuit in which each party through the law of civil procedure can request documents and other evidence from other parties or can compel the production of evidence by using a subpoena or through other discovery devices, such as requests for...
In camera (Latin: in chamber) is a legal term meaning in secret. It applies to court cases (or portions thereof) to which the public are not admitted. ...
In law and in religion, testimony is a solemn attestation as to the truth of a matter. ...
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