Uniform Trade Secrets Act Case Study

In the states of Virginia and New York, trades secrets consist of, “of a formula, process, device, or compilation which one uses in his business and which gives him an opportunity to obtain an advantage over competitors who do not know or use it.” Trade secrets are typically protected by nondisclosure agreements. For example, Virginia is one of several states that have adopted the Uniform Trade Secrets Act; however, New York has not yet adopted the Uniform Trade Secrets Act
The damages for theft of intellectual property in New York and Virginia are similar regarding the plaintiff for economic harm causing violation of a trade secret; however, when the law in New York pertains to penal damages, they are offered under exceptional conditions. An order may require the future use upon payment of a reasonable fee for no longer than the period of time for which use could have been forbidden. Whereas in Virginia, if the court concludes that the perpetrator acted maliciously or willfully, it may grant the plaintiff punitive damages doubled the amount its actual compensations. Also, attorney fees would also be awarded in outrageous situations (willingly or maliciously) or it the plaintiff acted in bad faith when filing the lawsuit. Also, certain federal rules can apply in New York and Virginia with the help of The Economic Espionage Act of 1996; which, makes the theft of trade secrets a federal crime. The penalties for the …show more content…
One state is court appointed and the other is empowered by law. For example, in New York, a court may command a defendant to stop breaching the plaintiff's rights and to take strides to uphold the secrecy of the plaintiff's information. In Virginia, injunction is fairly the same with a slight difference; The Virginia Uniform Trade Secrets Act (VUTSA) authorizes a court to stop violating the plaintiff's