Section 550.1 – Short title.

550.1 Short title. This chapter shall be known and may be cited as the “Uniform Trade Secrets Act”. 90 Acts, ch 1201, §1

Section 550.2 – Definitions.

550.2 Definitions. As used in this chapter, unless the context otherwise requires: 1. “Improper means” means theft, bribery, misrepresentation, breach or inducement of a breach of a duty to maintain secrecy, or espionage, including but not limited to espionage through an electronic device. 2. “Knows” or “knowledge” means that a person has actual knowledge of […]

Section 550.3 – Injunctive relief.

550.3 Injunctive relief. 1. The owner of a trade secret may petition the district court to enjoin an actual or threatened misappropriation. Upon application to the district court, an injunction shall be terminated when the trade secret has ceased to exist. However, the injunction may be continued for an additional reasonable period of time in […]

Section 550.4 – Damages.

550.4 Damages. 1. Except to the extent that a material and prejudicial change of a person’s position occurs prior to acquiring knowledge of a misappropriation and renders a monetary recovery inequitable, an owner of a trade secret is entitled to recover damages for the misappropriation. Damages may include the actual loss caused by the misappropriation, […]

Section 550.5 – Defense — consent of disclosure.

550.5 Defense — consent of disclosure. In an action for injunctive relief or damages against a person under this chapter, it shall be a complete defense that the person disclosing a trade secret made the disclosure with the implied or express consent of the owner of the trade secret. 90 Acts, ch 1201, §5

Section 550.6 – Attorney fees.

550.6 Attorney fees. The court may award actual and reasonable attorney fees to the prevailing party in an action under this chapter if any of the following is applicable: 1. A claim of misappropriation is made in bad faith. 2. A motion to terminate an injunction is made or resisted in bad faith. 3. A […]

Section 550.7 – Preservation of secrecy.

550.7 Preservation of secrecy. In an action brought under this chapter, a court shall preserve the secrecy of an alleged trade secret by reasonable means, including but not limited to granting protective orders in connection with discovery proceedings, holding in-camera hearings, sealing the records of the action, and ordering a person involved in the litigation […]

Section 550.8 – Statute of limitations.

550.8 Statute of limitations. An action for misappropriation under this chapter must be brought within three years after the misappropriation is discovered or should have been discovered by the exercise of reasonable diligence. For purposes of this section, a continuing misappropriation constitutes a single claim. 90 Acts, ch 1201, §8