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The Texas Uniform Trade Secrets Act
This year, the Texas Legislature enacted the Texas Uniform Trade Secrets Act (“TUTSA”). On September 1, 2013, Texas will join 46 other states that are currently governed by some form of the Uniform Trade Secrets Act. TUTSA codifies and modernizes Texas law on misappropriation of trade secrets by providing a simple legislative framework for litigating trade secret cases. Among other things, TUTSA provides an unambiguous and updated definition of trade secrets, a simplified means for obtaining injunctive relief and sealing court records, and an attorneys’ fees provision for recovering fees from those parties who engage in willful and malicious activity. What follows is a section by section analysis of TUTSA.
Trade Secrets
Broadly speaking, a trade secret is any information that provides a company a competitive edge and is not publicly known. But to be entitled to these protections, a company must undertake some effort to maintain the secrecy of its trade secrets. In other words, it must keep its trade secrets “secret.” Unlike a patent or a copyright, trade secret protection can last forever. But it is a very unforgiving form of protection. It can be easily lost by disclosing the secret publically. Therefore, from the moment a trade secret is created, the owner must guard the secrecy of that secret 24 hours a day, 365 days a year. So how does a company maintain the secrecy of its trade secrets without simply locking the secret up and throwing away the key? Here are some reasonable and relatively simple steps that a company can take to protect its trade secrets under the new Texas Uniform Trade Secrets Act (“TUTSA”), Tex. Civ. Prac. & Rem. Code §134A.002 et seq. (2013).
Intellectual Property 101
Intellectual property, which refers to any creation of the mind, can be the most valuable asset of a company, especially in this information age in which assets are generally of an intangible nature. Intellectual property, however, is only valuable if protected, using government-granted legal rights that grant limited monopolies to its creators. This article will focus on the concept of intellectual property, the identification of primary intellectual property types, the basics about protecting those types of intellectual property, and the legal remedies for violation of such rights.
Intellectual Property 101
Intellectual property, which refers to any creation of the mind, can be the most valuable asset of a company, especially in this information age in which assets are generally of an intangible nature. Intellectual property, however, is only valuable if protected, using government-granted legal rights that grant limited monopolies to its creators. This article will focus on the concept of intellectual property, the identification of primary intellectual property types, the basics about protecting those types of intellectual property, and the legal remedies for violation of such rights.
Unfair Competition, Theft of Trade Secrets, ETC.
Fall, 2014
Includes articles on: "Texas Supreme Court’s Recent Shareholder Oppression Opinions Reaffirm Primacy of Common Law Fiduciary Duties Under Gearhart" by Byron Egan and Michael L. Laussade; "Texas Pattern Jury Charge on Trade Secret Misappropriation Near Completion" by Joe Cleveland; "What Happened to TrueCrypt?" by Ron Chichester; and "Judicial CLE Committee Update: Helping Strengthen Texas" by Evan Young.
Fall, 2014
Includes articles on: "Texas Supreme Court’s Recent Shareholder Oppression Opinions Reaffirm Primacy of Common Law Fiduciary Duties Under Gearhart" by Byron Egan and Michael L. Laussade; "Texas Pattern Jury Charge on Trade Secret Misappropriation Near Completion" by Joe Cleveland; "What Happened to TrueCrypt?" by Ron Chichester; and "Judicial CLE Committee Update: Helping Strengthen Texas" by Evan Young.