Trade Secrets - What Can You Get if a Trade Secrets Case Goes to Trial?

Here is another article presenting the importance of trade secrets for small businesses, Trade Secrets. However, the article does go two steps further. First, the article provides access to confidentiality forms. Secondly, the article touches on the remedies available to the injured party.

The article quotes the definitions for "trade secrets", "misappropriation", and "improper means." Indiana adopted these same definitions and are found at IC 24-2-3-2 . While Indiana has adopted the Uniform Trade Secrets Act, the states can make changes to the uniform law creating local variations. Indiana appears to have adopted the UTSA wholesale.

The article quotes the UTSA provisions for injunctive relief and for damages. You can find these same statutes in the Indiana Code at IC 24-2-3-3 (Injunction against misappropriation; exceptional circumstances)and IC 24-2-3-4 (Damages for misappropriation and unjust enrichment; royalty; exemplary damages). The article paraphrases the statute regarding attorney fees, Indiana adopted the attorney fees statute as IC 24-2-3-5.

Article does not mention the statute of limitations. Here is the statute of limitations for trade secrets in Indiana:

IC 24-2-3-7
Limitation of action
Sec. 7. An action for misappropriation must be brought within three (3) years after the misappropriation is discovered or by the exercise of reasonable diligence should have been discovered. For the purposes of this section, a continuing misappropriation constitutes a single claim.

While I emphasize prevention as being of the most importance in Indiana trade secrets, even the best preventive maintenance insures no theft of trade secrets. Which may mean litigation. However, taking steps to prevent trade secrets theft improves your chances of winning in court and lowers the cost of trying a case.

If you have not read my other articles on trade secrets, I think you need to do so to get a broader view of Indiana trade secrets law. Just click on the "Trade Secrets" link below - next to the word Labels.

If you think you have an Indiana trade secrets case, please contact me.