New Jersey Trade Secrets Act Signed Into Law

January 24, 2012
By Michael J. Jurista, Esq. on January 24, 2012 5:33 PM |

On January 9, 2012, Governor Chris Christie signed into law a bill that creates the New Jersey Trade Secrets Act, modeled after the Uniform Trade Secrets Act which has been adopted in 46 states and the District of Columbia.This Act provides specific remedies to businesses in the event that a trade secret is misappropriated.

Pursuant to the terms of the Act, trade secrets which may be subject to protection include, but are not limited to, proprietary information with economic value such as a formula, method, design, invention, drawing, program device, process or business data compilation which has been subject to reasonable efforts to maintain its secrecy.

Any business harmed pursuant to the Act may seek an injunctive relief, damages resulting from actual loss or unjust enrichment, reasonable royalties, attorney's fees, expert fees and/or punitive damages.

Ambrosio & Tomczak is a full-service law firm equipped to handle a wide variety of commercial litigation matters.