The Florida Uniform Trade Secrets Act (“FUTSA”) prohibits the misappropriation and misuse of a company’s trade secrets. Violations of the FUTSA may provide a litigant with relief in the form of monetary damages, injunctive relief, and attorney fees and costs.
FUTSA litigation is a highly complex area of law, therefore it is important to understand all elements required to bring a FUTSA claim.
To bring a claim for misappropriation of a trade secret, a party must show:
- You have a trade secret or protected confidential information to protect;
- You took reasonable steps to protect the trade secret and confidential information,
- The acquirer’s knowledge that the trade secret belonged to another party (who either stole the trade secret information or had a duty to keep the trade secret private) and that the trade secret and/or confidential information was misappropriated by a third party without consent.
What is a trade secret defined as?
Information including patterns, compilations, programs, formulas, devices, methods, techniques and/or processes in which your business:
(a) 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
(b) Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
Examples of violations of the Florida Uniform Trade Secrets Act (“FUTSA”) include:
- your company’s business plan or a unique pattern of technique or methodology is being utilized by a disgruntled ex-employee within their newly formed business.
- your company’s commercial data is being used by a vendor for their own economic gain and not for the purposes in which you originally provided consent for.
- protected customer list is stolen by an employee or independent contractor.
- the improper use of a unique combination of otherwise known components (such as plan, tools, process, compound or mechanism) being used differently than ordinarily known methods in the industry that adds value to the information. Sun Crete of Florida, Inc. v. Sundeck Products, Inc. 452 So.2d 973.
In addition to a FUTSA claim, you may also have a claim under the Federal Defend Trade Secrets Act and/or various other acts depending on the facts of your case.
If anyone has used your trade secrets to enrich their own company but hurt yours, you need The Campbell Law Group P.A. These cases require an attorney which is experienced in complex business and employment legal matters and litigation and preferably an attorney who understands the nature of business and has a strong financial background. Here at the Campbell Law Group, we can diligently and effectively represent you or your company and help develop legal strategies that suit your company’s needs and helps mitigate your company’s risk.