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Patents and Trademarks: Trade Secrets

Briggs Library is a Patent and Trademark Resource Center in conjunction with the U.S. Patent and Trademark Office.

Trade Secrets

  • Trade secrets are just what the name says - secrets vital to a company.
  • Often too sensitive to patent
  • Protected by legal documents such as non-disclosure agreements
  • Famous example of a trade secret: recipe for Coke

Protections

Laws

Econoimc Espionage Act of 1996 criminalizes trade theft under two circumstances:

  • Economic espionage - theft of a trade secret knowingly benefitting a foreign government, instrumentality, or agent.
  • Theft of trade secrets - theft of a product or service used in interstate or foreign commerce where the theif knows the loss will damage the owner.
  • Prosecuted by the Department of Justice
  • Punishable by fines and/or prison

Defend Trade Secrets act of 2016 amends the Economic Espionage Act by adding a civil cause of action

Sanctions

  • Courts can order the misappropriation stop
  • Courts can order the trade secret be protected from public knowledge
  • Misappropriated goods may be seized
  • Damages, court costs, and reasonable attorneys' fees may be awarded