Trade Secret Misappropriation

Trade secret misappropriation occurs when someone improperly obtains or uses confidential business information that gives a company a competitive edge. This could involve stealing, disclosing, or utilizing a trade secret without permission. Examples include leaking formulas, customer lists, or business strategies. To qualify as a trade secret, the information must be kept secret and provide economic value. Misappropriation can lead to legal consequences, as it violates the rights of the business that developed the trade secret. Protecting trade secrets is crucial for companies to maintain their competitive advantage and safeguard their intellectual property.