Trade Secret

Arizona Trade Secret Theft Attorney

Trade secrets can include sensitive marketing information, customer lists, software, inventions that are unpatented, processes, techniques, and other information that a business possesses that gives it a competitive edge. In other words, the information is to not be known outside of the business. Even the employees usually sign nondisclosure agreements that say they will not reveal any trade secrets. If they do, they could lose their job and face very tough consequences.

If you find yourself accused of stealing a trade secret for your own gain or the gain of someone else, you want to defend yourself against that accusation. Myles A. Schneider knows trade secret law and how it applies to your situation, thus creating a strategy that will help you.

What Is Considered A Trade Secret?

Information may be considered a trade secret if it meets one or more of the following:

  • It is not known outside of the business
  • Only employees and other authorized individuals involved in the business know the information
  • The information is valuable to the business
  • Certain measures are taken to protect the information
  • Others cannot easily acquire and duplicate the information

In Arizona, the Uniform Trade Secrets act is in reference to the theft of trade secrets and considers this theft to be misappropriation. It is considered misappropriation when a person has reason to believe that a secret that they have received was acquired through improper means. Theft, breach of inducement, and bribery are ways in which trade secrets can be stolen and even kept secret.

Trade Secret Theft Penalties

In Arizona, the court can order an injunction to prevent the trade secret thief from disclosing the information. When the trade secret no longer exists, the injunction can be lifted. However, the injunction can remain in place if the court feels that that is the appropriate thing to do. Most of the time, the injunction will remain in place until the commercial advantage that a business has using that secret is eliminated.

The victim of trade secret theft can seek monetary compensation for the financial losses that occurred due to the theft. An Arizona court can decide that punitive damages that are twice the amount of any initial award are appropriate. No matter what, it is a must for you to defend yourself against the accusations because a violation of the Uniform Trade Secrets Act could result in $5 million in fines and 15 years in prison. This defense is achieved through a Phoenix criminal defense lawyer who knows the law.

Contact A Phoenix Trade Secret Theft Lawyer

If you have been accused of trade secret theft, the consequences could go well beyond an injunction. You could be facing penalties that go beyond a simple injunction. You could be facing financial penalties and prison time. Myles A. Schneider is there to find out what led to the accusations, look at every aspect of the case, and help you defend yourself. To find out more, call 602-926-7373 for a free consultation.