40-24-101. Definitions. (a) As used in this act, unless the context requires otherwise: (i) “Improper means” includes theft, bribery, misrepresentation, breach or inducement of a breach of duty to maintain secrecy or espionage through electronic or other means; (ii) “Misappropriation” means: (A) Acquisition of a trade secret of another by a person who knows or […]
40-24-102. Injunctive relief. (a) Actual or threatened misappropriation may be enjoined. Upon application to the court an injunction shall be terminated when the trade secret has ceased to exist, but the injunction may be continued for an additional reasonable period of time in order to eliminate commercial advantage that otherwise would be derived from the […]
40-24-103. Damages. (a) Except to the extent that a material and prejudicial change of position prior to acquiring knowledge or reason to know of misappropriation renders a monetary recovery inequitable, a complainant is entitled to recover damages for misappropriation. Damages can include both the actual loss caused by misappropriation and the unjust enrichment caused by […]
40-24-104. Attorney’s fees. (a) A court may award reasonable attorney’s fees to the prevailing party if: (i) A claim of misappropriation is made in bad faith; (ii) A motion to terminate an injunction is made or resisted in bad faith; or (iii) Willful and malicious misappropriation exists.
40-24-105. Preservation of secrecy. In any action under this act, a court shall preserve the secrecy of an alleged trade secret by reasonable means, which may include granting protective orders in connection with discovery proceedings, holding in-camera hearings, sealing the records of the action and ordering any person involved in the litigation not to disclose […]
40-24-106. Statute of limitations. An action for misappropriation must be brought within four (4) years after the misappropriation is discovered or by the exercise of reasonable diligence should have been discovered. For the purposes of this section, a continuing misappropriation constitutes a single claim.
40-24-107. Effect on other law. (a) Except as provided in subsection (b) of this section, this act displaces conflicting tort, restitutionary and other law of this state providing civil remedies for misappropriation of a trade secret. (b) This act does not affect: (i) Contractual remedies, whether or not based upon misappropriation of a trade secret; […]
40-24-108. Uniformity of application and construction. This act shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this act among states enacting it.
40-24-109. Short title. This act may be cited as the Uniform Trade Secrets Act.
40-24-110. Time of taking effect. This act does not apply to misappropriation occurring prior to July 1, 2006. With respect to a continuing misappropriation that began prior to July 1, 2006, the act does not apply to the continuing misappropriation that occurs after July 1, 2006.
