Many Texas businesses have trade secrets, such as formulas, computer codes or others, that they have taken reasonable steps to protect. In the event a person or another business violates the business’s trade secret protections, either by reverse engineering or through other means, the owner may take legal steps in order to obtain appropriate remedies.
The business may seek an injunction from a court to prevent either a threatened misappropriation of a trade secret or to stop any further use of one that has already been stolen. Upon the court’s issuing an injunction, the defendant will be prohibited from any use of the trade secret. If it violate the court’s orders, it can face significant penalties.
The business may also seek damages in addition to injunctive relief. Damages may include both the actual losses suffered due to the trade secret violation as well as amounts for any unjust enrichment the violator obtained through using the trade secret as well. Finally, the owner of the trade secret may also seek and obtain attorney’s fees that it has incurred.
The misappropriation of protected trade secrets can result in significant losses to the business that developed and owned it. In order to prevent other businesses and individuals from engaging in this type of activity, state law provides a method through which a business may stop the threatened or actual use and be made whole again. Businesses that have had their trade secrets stolen may want to seek help from an attorney who has experience in intellectual property protection. Such an attorney can determine the various methods of recourse that may be available, including the filing of a trade secrets lawsuit under the applicable statute seeking damages for the theft.