SB 0049 Uniform Trade Secrets Act
Committee:JUDILR Number:L0422.01I
Last Action:02/01/95 - Voted Do Pass S Judiciary Committee
Effective Date:August 28, 1995
All Actions | Senate Home Page | List of 1995 Senate Bills
Current Bill Summary

SB 49 - The act shall be known as "The Uniform Trade Secrets Act". Any actual or threatened misappropriation of a trade secret may be enjoined by a court. The injunction shall continue until the trade secret no longer exists, with an allowance for time to eliminate any commercial advantage that may be derived from the misappropriation. The act permits monetary damages to be awarded for a misappropriation of a trade secret and allows for the recovery of punitive damages.

A court is allowed to preserve a trade secret by closing records and proceedings relating to the trade secret. Actions for misappropriations shall be brought within five years after the misappropriation is discovered or should have been discovered. Contractual remedies and other civil and criminal actions resulting from such conduct are not affected.

See Truly Agreed To SCS/SBs 80 & 88.