During this economic downturn - which some have dubbed the "Great Recession" - California companies have to work especially hard to keep their businesses afloat. Unfortunately, this already difficult task gets even more complex when businesses breach contracts with each other. For example, when a distributor fails to deliver products on time to a retailer, the retailer has nothing to sell on its shelves, which means no revenue for the retailer.
Under the federal Uniform Trade Secret Act (UTSA), a trade secret is information that derives economic value, actual or potential, from not being generally known to the public or ascertainable by other people who could obtain economic value from its use. In order to be a trade secret, the information must also be the subject of reasonable efforts to maintain its secrecy.