In Florida, a trade secret is information, including a formula, pattern, compilation, program, device, method, technique, or process that:
(a) Derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and(b) Is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
Generally speaking, any business that has confidential business information providing that business a competitive advantage from said information not being generally known, may have trade secret protection for said information. To be sure, that information has to be subject to confidentiality safeguards among any individuals exposed to said information. If that information is misappropriated by said individuals, and/or a business entity or third party receiving said information from said individuals, then the owner of the trade secret will likely have recourse against the misappropriating parties. The unauthorized use of such information by persons other than the holder or owner of a trade secret may also be regarded as an unfair trade practice, in addition to just a violation of the trade secret. In addition to the above examples, trade secrets may also encompass manufacturing or industrial secrets and commercial secrets.
If you believe you have a Florida trade secret needing an experienced attorney, we at Johnson Dalal would be happy to answer any questions not answered above and/or to assist you protecting or enforcing said Florida trade secret. Please contact us by telephone at (888) 201-8001 or (954) 507-4500, or by email at Info@JohnsonDalal.com. We look forward to being YOUR trade secret attorneys.