theft of trade secrets act

The Theft of Trade Secrets Act is a law that protects valuable business information, known as trade secrets, from being stolen or improperly disclosed. Trade secrets can include formulas, methods, designs, or other confidential information that gives a business a competitive edge. Under this act, legal action can be taken against individuals or companies that acquire, use, or disclose trade secrets without permission, especially through dishonest methods like espionage or bribery. The aim is to maintain fair competition and protect innovation by ensuring that businesses can safeguard their confidential information.