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TRADE SECRETS ACT
Florida has adopted the Uniform Trade Secrets Act, which is found in Florida Statutes, Sections 688.001 – 688.009. The law protects employers from having their trade secrets stolen or misappropriated. A trade secret is information, including a formula, pattern, program, device, method, technique, or process that 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 it disclosure or use, and is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
The owner of a trade secret may file a lawsuit and seek an injunction to protect its interest in the trade secrets and to maintain their secrecy. The court can also award money and attorney’s fees if the owner prevails. Also under Florida law, it is a criminal offense for a person to steal, embezzle, or make an unauthorized copy of a trade secret.
For more information on this topic:
Akers & Boswell, PA
1601 Belvedere Road Suite 106-E
West Palm Beach, Florida 33406
(561) 547 6300 - (561) 828 9212 FAX
