by Mike Maslanka
On May 2, Governor Rick Perry signed the newly enacted Texas Uniform Trade Secrets Act, which takes effect September 1. Texas is the 48th state to pass the law, proving that while Texas may not always be first, it is never last!
The law, put simply, is a big deal. It wipes away, with a stroke of the governor’s signature, all existing case law regarding misappropriation of trade secrets. So what will be a trade secret under the new law? “Information, including a formula, pattern, compilation, program, device, method, technique, process, financial data, or list of potential customers or suppliers.”