Penalties for Trade Secret Violations [Infographic]

Penalties for Trade Secret Violations

Significant legal consequences may result when trade secrets are stolen or misappropriated for your benefit or the gain of another. Trade secrets are:

• Sensitive, proprietary and/or private information

• Information that is not known to competitors or the general public

• Meant to be protected to prevent the trade secret's rightful owner from economic harm

In Arizona, information can be considered a trade secret if one or more of the following are true:

• The information is only known within the business entity itself

• The information has a business value

• Only certain business employees have knowledge of the information

• Steps were taken to keep the information confidential

• The information is not easily copied or obtained

When a trade secret violation has occurred, the following penalties may result:

• A court-ordered injunction to prevent the thief from disclosing the secret

• Punitive damages that require the trade thief to compensate the harmed business for economic losses

• Up to $5 million in fines and 15 years in prison for violating the Uniform Trade Secrets Act

If you find yourself facing criminal charges for trade secret violation, contact Tyler Allen Law Firm for the best possible defense.