While a Trade Secret cannot be registered, the intellectual property litigation attorneys of Goldstein, Faucett & Prebeg are experienced and accomplished in assisting Trade Secret owners (whether an individual inventor or a large company) in the enforcement of its Trade Secrets. Because individuals or companies that have had their Trade Secret taken from them often do not have a litigation budget to assist in recovering the damages, Goldstein, Faucett & Prebeg often assist Trade Secret owners through a contingency fee arrangement.
The law protecting Trade Secrets was developed because the owner's commercial advantage can vanish once a competitor learns of the Trade Secret. Thus, the law protects the Trade Secret owner's efforts to keep her/his achievements secret and gain a commercial advantage over her/his competitors.
Unlike Patents, Trademarks/Service Marks or Copyrights, a Trade Secret is a type of Intellectual Property for which the owner does not seek registration or a grant from the United States Government.
A Trade Secret typically consists of a formula, pattern, device or compilation of information which is used in the Trade Secret's owner business and which gives the Trade Secret owner an opportunity to obtain an advantage over competitors who do not know or use the Trade Secret.
A Trade Secret may be a formula for a chemical compound, a process of manufacturing, treating or preserving materials, a pattern for a machine or other device or a list of customers.
As the name of this Intellectual Property suggests, Trade Secrets must be kept secret. Matters which are generally known or commonly known to the trade in which the Trade Secret owner is engaged cannot be protected as a Trade Secret.
If a Trade Secret has in fact been maintained as secret, a Trade Secret owner may be able to recover damages for another's inappropriate possession (e.g., theft or improper discovery) and use of the Trade Secret.
Goldstein, Faucett & Prebeg is flexible in negotiating contingent fee Trade Secret litigation and alternative billing arrangements, with the range of rates depending on the nature of the case. The fee can also be based upon a mixed hourly/partial contingency fee arrangement.
