Since being approved in 1979, the Uniform Trade Secrets Act has been adopted, in some form or fashion, by 47 states. At least one Texas lawmaker hopes to make Texas the 48th to do so. With S.B. 953, a Dallas lawmaker seeks to codify existing Texas common law relating to misappropriation of trade secrets and expand available remedies to a “claimant” seeking to stop and remedy a misappropriation. If enacted, the Texas Uniform Trade Secrets Act would go into effect on September 1, 2013.
Of note, the proposed legislation includes a definition of “trade secret,” which should provide some uniformity over the existing common law. Of particular benefit to those in the pharmaceutical, staffing, financial services, and insurance industries, the legislation’s definition of “trade secret” includes a business’s list of actual or potential customers or suppliers. Other encouraging aspects of the bill are express statutory authority for courts to enjoin actual or threatened misappropriation, a
