Businessmen and executives in Wisconsin may know that the state has adopted the Uniform Trade Secrets Act. Under this law, no person may misappropriate the trade secrets of another person or organization by collecting information by unfair means. Trade secrets include formulas, patterns, methods, techniques and processes that are integral to an organization and contribute to its growth.
In Wisconsin, anyone accused of misappropriating trade secrets may be served an injunction order that will prevent them from disclosing secrets. Also, according to the law, stealing trade secrets is a federal crime. Victims of trade secret leakage may wish to seek compensation for any actual incurred loss. A court may award damages up to three times the actual loss and may also ask the violator to pay the legal fees that the victim had to bear.