Trade Secrets in Florida
FL trade secret (Chapter 688, FUTSA): information with economic value from secrecy, plus reasonable secrecy efforts. Examples: customer lists, processes, pricing, algorithms. Protection: injunction, damages (actual + unjust enrichment + 2x exemplary for willful), and attorney fees (Section 688.005: willful/malicious). Statute: 3 years from discovery (Section 688.007). Misappropriation: improper acquisition, disclosure, or use. Not: independent discovery, reverse engineering, or voluntary disclosure.
Definition
- Economic value from secrecy
- Reasonable secrecy efforts
- Examples: customer lists, algorithms
Protection
- Injunction, damages
- 2x exemplary (willful)
- Attorney fees (Section 688.005)
Misappropriation
- Improper means: theft, espionage
- Not: reverse engineering
- 3-year statute (Section 688.007)
Related Terms
- Trademark — IP registration
Barnes Walker Business Law
Barnes Walker’s attorneys handle trade secrets in Florida. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC