Forget everything you know about Texas trade secret law. On September 1, 2013, the Uniform Trade Secret Act comes to town. Some would say that it’s about time – Texas is the 48th State to adopt the law.
The new law defines “trade secret”, what constitutes misappropriation or theft of trade secrets, and the types of remedies (including injunctive relief and recoverable damages) that are available. Except for contractual remedies, it will replace all other civil remedies available for trade secret misappropriation. Those remedies may still be available for other causes of action.
The new law applies to misappropriation of trade secrets that occur on or after September 1, 2013. For the text of the bill, see Texas Senate Bill 953