Almost every state has passed some version of the Uniform Trade Secrets Act, which sets forth what a trade secret is and when it is actionable because of a misappropriation of that trade secret. Generally, it’s information which can be a formula, a method, a practice, a technique, a business compilation, or business data that is not generally known, or not readily accessible, and from which the company derives independent economic value. As long as that trade secret is kept secret, then that company has a right to protect it.
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