The Friday, October 18, 2024, issue of the Chicago Daily Law Bulletin has a story about a $604.9 million verdict, awarded by a California jury. The jury apparently found that Phillips 66 stole biofuel maker Propel Fuels’ secrets “under the guise of gathering information for a potential acquisition and then used them to create a competing business.” This is a warning to all companies that are approached to be acquired. You must institute safeguards for your trade secrets and other confidential information before discussions begin or be prepared to file a lawsuit if they are stolen.
For advice about suing someone who stole your trade secrets, get in touch with Tom Patterson, tpatterson@pattersonlawfirm.com.