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Dallas Trade Secret Attorney

A trade secret is any information that has economic value from not being known and which is properly maintained as a secret. Materials that may be a trade secret include, but are not limited to, formulas, computer hardware, computer software, processes, technical procedures, business methods, customer lists and know-how. Companies commonly have trade secrets that allow them to be successful in their field and to better compete with competitors. Thus, it is vital that companies properly protect their trade secrets.

At the federal level, the Defend Trade Secret Act (DTSA) was passed in 2016 to protect trade secrets and hold accountable those that misappropriate trade secrets. Additionally, the Texas Uniform Trade Secret Act (TUTSA) was enacted to further protect trade secrets and punish misappropriators. When holding a misappropriator accountable, it is important to know which Act to utilize. The attorney at the Peacock Law Firm PLLC can assess the situation and provide you with the best path forward to protect and defend your trade secrets.

At the Peacock Law Firm PLLC, the attorney can assist you in properly protecting your trade secrets. And if someone has misappropriated your trade secrets, the attorney can represent you in court to stop the misappropriation, including obtaining the necessary court orders and injunctions. If, however, someone has accused you of trade secret misappropriation, the attorney can represent you. For a consultation, contact the firm’s office today at (214) 617-1000 or send an email today.

Understanding Trade Secrets

Patent protection lasts a fixed number of years, typically no longer than 20 years. Because of the short lifespan of patent protection, trade secret protection may be a viable alternative because, if trade secrets are properly protected, legal protection for a trade secret can last forever.

There are many ways of properly protecting trade secrets. Some of the most frequently used protection methods include:

  • Non-disclosure agreements (NDA)
  • Non-compete clauses (NCC)
  • Work-for-hire

All of these methods require that employees sign legal agreements saying they will not reveal or misappropriate company secrets upon leaving the organization. Due to the contractual obligations required in each of these documents, it is imperative to seek legal counsel to provide maximum security for your trade secrets.

The Risk and Benefits of Trade Secrets

Despite protection methods, there is a wide array of ways competing companies can discover a trade secret legally. For example, a competitor can reverse-engineer a product or method. While reverse-engineering the product or method, if a competitor discovers a trade secret, it was done legally. Trade secret protection contains many risks, but if a company protects the trade secret adequately, then a competitive advantage can last for longer than the lifetime of a patent. Furthermore, trade secret protection is typically much easier to establish than obtaining a patent, which can take one or more years and be costly. Any company considering trade secret protection should consult with a legal professional. The attorney at Peacock Law Firm PLLC would be delighted to speak with you about protecting your trade secrets.

Contact a Trade Secret Attorney Today

If you are seeking trade secret protection, it is imperative to find a qualified attorney to assist you. Further, if someone has misappropriated your trade secrets or if you are being accused of misappropriation, the attorney at Peacock Law Firm PLLC can help. The attorney can help protect company secrets and wants clients to maintain their competitive advantage. The attorney also represents clients in trade secret misappropriation litigation. Contact the firm’s office at (214) 617-1000 or send an email to speak with a trade secret attorney today!