For many Florida businesses, intellectual property is a critical component of their success. Trade secrets, including secret formulas, client lists and more, are valuable property, and it is important for a company to protect this type of asset as much as possible. The misuse or theft of a trade secret could compromise a company’s competitive advantage, and it is appropriate to pursue legal recourse against those who are responsible for the theft of these assets.
Misappropriation of valuable information
As an example of the importance of trade secret protection, a company recently filed a lawsuit against a former employee. The legal claim alleges the misappropriation of trade secrets, stating that the former employee took important and secret information. The former employer alleges that this individual took secret information to a new employer, something that could prove to be harmful to the original owner of that information.
Proprietary information, such as secret formulas, algorithm formulations, software and other related tools are types of trade secrets. In this specific situation, the lawsuit claims that the employee allowed an unauthorized user to access certain templates that were specifically created for the original company. In the lawsuit, the company is also requesting a restraining order that would prevent the competition from using unlawfully obtained information.
Protecting trade secrets
A Florida company navigating trade secret concerns will benefit from the assistance of an attorney. An experienced legal ally can provide insight regarding the most beneficial way to protect trade secrets and secure the interests of a business. In the event of the misappropriation of trade secrets, an attorney can provide insight regarding the most appropriate way forward.