Bill > S05336

This bill creates the Uniform Trade Secrets Act in New York, establishing a comprehensive legal framework for protecting trade secrets and addressing their misappropriation. The act defines key terms such as "trade secret" (which includes various forms of business, scientific, and technical information that has economic value and is kept secret), "misappropriation" (which covers unauthorized acquisition, use, or disclosure of trade secrets), and "improper means" (including theft, bribery, and breach of confidentiality). The legislation provides several important legal remedies, including the ability to seek injunctive relief to prevent or stop trade secret misappropriation, recover damages (including actual losses and potential unjust enrichment), and in cases of willful misconduct, obtain exemplary damages up to twice the original award. The bill also allows courts to award attorney's fees in cases of bad faith litigation, mandates preservation of trade secret confidentiality during legal proceedings, and establishes a three-year statute of limitations for bringing misappropriation claims. Additionally, the act does not interfere with existing contractual or criminal remedies and is designed to create uniformity in trade secret protection across states that adopt similar legislation. The law will take effect 180 days after enactment and will not apply retroactively to misappropriations that occurred before its effective date.

Justice

https://www.nysenate.gov/legislation/bills/2025/S5336