Trade secrets are intellectual property protected by federal and state law and were originally derived from the common law. The following are the laws most frequently used to protect entrepreneurs, individuals and businesses when their trade secrets have been misappropriated by improper means:

• The Economic Espionage Act ( EEA): The EEA is a federal law that makes misappropriation of trade secrets a federal crime. The EEA has two main provisions.

First, theft of a trade secret to benefit a foreign government, agent or individual is a violation of the EEA and prosecuted by the Department of Justice . Second, another part of the EEA targets theft of commercial trade secrets from the owner of a trade secret and includes international and domestic misappropriation of trade secrets.

• The Defend Trade Secrets Act (DTSA): The DTSA is a federal law that created a private cause of action provided an owner of a trade secret the right to sue in federal court for trade secret misappropriation. The DTSA broadly defines a trade secret, and provides for a number of remedies to the owner of a trade secret who has had their trade secrets misappropriated by improper means. First, the DTSA provides for the issuance of injunctions to prevent actual or threatened misappropriation of a trade secret . Second, the DTSA allows the trade secret owner to recover monetary damages, monetary damages for the unjust enrichment by the missappropriator, and a reasonable royalty for the amounts the missappropriator used your trade secrets . Third, the DTSA allows the owner to recover exemplary damages in certain cases and attorneys fees.

• The Uniform Trade Secrets Act (UTSA) . The UTSA is a uniform law that has been adopted by 49 states the District of Columbia , Puerto Rico and the US Virgin Islands. The UTSA broadly defines a trade secret and the misappropriation of a trade secret by improper means. The UTSA protects information with potential value even if the trade secrets are not currently in use. The UTSA provides for a number of remedies to an owner whose trade secrets have been misappropriated by improper means. First, the UTSA provides for the issuance of injunctions to prevent actual or threatened misappropriation of a trade secret . Second, the UTSA allows the trade secret owner to recover monetary damages, monetary damages for the unjust enrichment by the missappropriator , and in certain cases a reasonable royalty for the use of the owners trade secrets during the time of their unauthorized use. Third, the UTSA allows for the recovery of exemplary damages and attorney’s fees and costs in certain cases.

• New York state law : New York has its own trade secret statute (as it has not yet adopted the UTSA) and protects owners of trade secrets from misappropriation by improper means similar to the UTSA . The New York statute has some differences than the UTSA, but provides for remedies for trade secret misappropriation and for the owner to seek injunctive relief , and monetary damages against a person who has misappropriated trade secrets by improper means.

• The Common Law : Trade Secrets protections originally derived from the common law. Today common law principles protect the holders of trade secrets as a gap filler even in states that have adopted the UTSA. The common law principles protect employers from an employees breach of their duty of loyalty to the employer when a former employee misappropriates the employers trade secrets . Additional common law principles provide for breach of fiduciary duties and breach of confidentiality and non disclosure agreements, and provide remedies to the owner when statutory definitions of trade secrets under the above referenced laws have not been met.