8/18/2023 0 Comments Theft of trade secrets definition![]() ![]() ![]() 1 The Court of Appeals of Ohio for the Second Appellate District in Rhododendron Holdings, LLC v. Once the information loses its secrecy, its protection under the law is lost.ĭoes the improper use of a trade secret negate the protection? Can a bad actor’s misappropriation and misuse of a trade secret, destroy the information’s status as a trade secret? The answer, in short, is no. ![]() Second, the trade secret owner must be able to demonstrate reasonable efforts taken to maintain the information’s secrecy. First, the trade secret must have independent economic value by virtue of the fact that it is not generally known to others, who could profit from its disclosure. In general, any information can qualify for trade secret protection, so long as it satisfies two conditions. What are trade secrets? Under Ohio law, the determination of what qualifies for trade secret protection is amorphously broad. Read together, these rulings indicate that a company’s trade secrets can be protected from a bad actor’s use, even if that use occurs in a foreign jurisdiction, such as China. Recently, the United States Court of Appeals for the Sixth Circuit and the Court of Appeals of Ohio for the Second Appellate District each issued rulings addressing the scope of Ohio’s Uniform Trade Secrets Act (OUTSA). Tax and Economic Development Incentives.Securities, Shareholder Disputes and Corporate Governance.Mass / Toxic Tort and Product Liability Litigation.Land Use, Zoning, Real Property and Eminent Domain.Workplace Safety and Workers' Compensation.Employee Benefits and Executive Compensation.Environmental Litigation, Dispute Resolution and Crisis Management.Business Organizational Matters, Including Entity Selection and Capital Structure.Bankruptcy, Restructuring and Distressed Situations.Antitrust and Trade Regulation Litigation. ![]()
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