2 legal steps when trade secrets get stolen

| Feb 13, 2020 | Trade Secrets

Another company steals your trade secrets. Maybe it’s a domestic company or an international company that has trade relations with the United States. Either way, they use your trade secrets for their own gain. What can the court do to help you?

Your first concern may be the money you have already lost. They used your secrets to make products and sell them to your potential customers. That’s not competition; it’s theft. The court can order them to pay royalties to you based on the money earned. This should make up for the financial damage already done to you, which you cannot fix any other way. After all, those consumers already have their products, and you’ve lost the sales forever.

Your second concern is that your trade secrets, whatever they may be, now exist outside of your company. Even if you work hard to make sure your employees either do not know the secrets or know they’re obligated to keep them, it feels like it’s out of your hands. How far will it spread?

The good news is that the court can also order that company to maintain your secrets. They’re not allowed to spread the information to a third company or business entity. They now have a legal obligation to protect you by keeping quiet about what they know. You can never make it so they did not learn those trade secrets, but that doesn’t mean it’s entirely a lost cause.

A case like this can have a drastic impact on the future of your company, and you need to understand your legal rights.