Trade Secrets

Does Your Company Have A Trade Secret Vulnerable to Threat or Theft?

In our increasingly technological age, the opportunities for misappropriation of trade secrets have grown exponentially. Whether your company operates in a market that values unique customer databases, marketing strategies, formulas or designs, protecting the information that gives your company its competitive edge is often the key to your success.

Your trade secrets have incalculable value. Any potential theft, compromise, breach or destruction of your trade secrets can cause profound damage to your business. If your company’s trade secrets are threatened or you have been accused of misappropriating another company’s, a skilled trade secrets lawyer can help.

What The Corcoran Law Firm Can Do For You

Protecting your trade secrets is one of the most consequential strategies for a successful business. However, sometimes your best efforts are not enough. If someone has misappropriated confidential information or ideas that define your company’s niche, Corcoran IP Law PLLC is here to help. Peter Corcoran also represents defendants wrongly accused of misappropriating another company’s trade secrets.

Peter Corcoran has over 25 years of experience protecting the intellectual property rights of Texarkana, TX and Hot Springs, AZ, clients. His vast knowledge and understanding of intellectual property law have been developed throughout his career.

This exemplary career includes master’s degrees in electrical engineering and intellectual property law, software design and development, working as an intellectual property litigator and serving as a patent examiner for the US Patent & Trademark Office. He possesses relevant experience you won’t find in any other trade secret litigation lawyer.

How Do You Prove You Have Trade Secrets And That They Were Misappropriated?

The Uniform Trade Secrets Act (UTSA) was explicitly established to offer legal protections and a path to recovery for those claiming their trade secrets were misappropriated. Under this law, a trade secret can be a “formula, pattern, compilation, program, device, method, technique, or process.”

Two criteria govern whether your information qualifies as a trade secret:

• The information derives its value from “not being generally known” to or “readily ascertainable” by others who could economically benefit from the trade secret’s disclosure or use
• Reasonable efforts have been made to maintain the information’s secrecy

To prevail in a trade secret claim, the claimant must prove that:

• Reasonable precautions were taken to prevent the disclosure of the secret
• The information was misappropriated, that is, “illegally” or “wrongfully” taken

An illegal or wrongful taking is defined as acquiring the information through improper means or a breach of confidence.

By contrast, trade secrets can be obtained by lawful means, which could negate a claim of misappropriation. Lawful means to obtain trade secrets include:

• Reverse engineering to derive the information
• Independent discovery of the information
• Inadvertent disclosure due to the trade secret holder’s failure to take reasonable precautions to protect the information

Corcoran IP Law PLLC: Ready To Protect Your Interests And Rights In Trade Secret Disputes

Trade secret misappropriation, if proven, can result in the Court awarding the claimant injunctive relief, compensatory damages, exemplary (punitive) damages and attorney’s fees. Regardless of which side of the dispute you’re on, you need a trustworthy and committed trade secret dispute lawyer who can leverage the laws of intellectual property in your favor to protect you now and in the future.

A lawyer with a thorough understanding of the Uniform Trade Secrets Act and the elements that constitute the crime of misappropriation is crucial for both plaintiffs and defendants in this kind of dispute. With his extensive experience in intellectual property law, Peter Corcoran understands and cares about what’s at stake.

Schedule an initial consultation with Texas and Arizona’s top trade secret attorney today.