Litigation Trade Secret

Trade secret litigation is often very fact-driven as it is essential to prove that each of the required elements have been met for the creation of the alleged trade secret.  If any one of those elements are not sufficiently proven, the trade secret claim will fail.  Thus, the owner of a trade secret is required keeping clear records that continuously show that the trade secret is information that has either actual or potential independent economic value by virtue of not being generally known, has value to others who cannot legitimately obtain the information, and is subject to reasonable efforts to maintain its secrecy.  All three elements are required; if any element ceases to exist, then the trade secret will also cease to exist.  For those that have maintained these elements, and have maintained accurate records of compliance with these requirements, trade secret litigation can be a very effective way to prevent the unauthorized taking and use of protected information.  Additionally, a prevailing party in a trade secret claim can be awarded attorney fees that had to be spent to litigate the matter which often drives an early resolution of the matter.