Today’s interconnected, data-driven economy requires companies—from entrepreneurial start-ups to multinational corporations—to safeguard proprietary business data, research and other trade secrets or face catastrophic losses from disclosure to competitors. Trade secrets comprise valuable intellectual property assets that advance technological and scientific development, encourage innovation and protect intangible rights in a competitive environment. Attorneys for these companies, particularly those with a significant investment in intellectual property, should understand how to protect their clients’ interests in maintaining trade secrets’ privacy by availing themselves of the injunctive remedies provided under the New Jersey Trade Secrets Act (NJTSA), N.J.S.A. 56:15-1, et seq.
Protecting Trade Secrets in
New Jersey
Enacted more than two years ago, on Jan. 5, 2012, the NJTSA is based on the Uniform Trade Secrets Act, which has been adopted by 46 states and the District of Columbia. The NJTSA recognizes that trade secrets require heightened protection and confidentiality, and provides that actual or threatened misappropriation may be enjoined. Prior to the NJTSA, courts analyzed trade secret misappropriation using the confidentiality principles of the Restatement (Third) of Unfair Competition, and the trade secret definition and six-factor misappropriation analysis of the Restatement (First) of Torts.
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