Legal Question in Intellectual Property in Georgia
Are they really trade secrets? Why won't they give me my contract?
A securities broker/dealer with whom I have a contract said that I could never do anything in the securities industry again. They believe they have ''trade secrets'' about how the market functions. I believe that it is common knowledge. I do not have a copy of my contract and they won't release one to me. What are my rights to a copy of the contract? And... Is showing the existence of their so called ''trade secrets'' in books and other publications sufficient in disproving them?
THANKS!
1 Answer from Attorneys
Re: Are they really trade secrets? Why won't they give me my contract?
It is interesting that the company will not give you a copy of your contract. If they absolutely refuse to give you a copy of the contract and you really need it, you may be forced to file a lawsuit against them to obtain it. As to your question about trade secrets, information that is generally known in the industry usually cannot be protected as a trade secret. However, in the securities industry, courts have held that customer lists and specific marketing and strategy information, if reasonably protected by the company, can be a trade secret. While you may be prohibited from using true trade secrets for as long as the trade secrets remain actual secrets, you could not be prohibited from working in the industry for ever, if you did not use such trade secrets. Non-compete covenants must have reasonable limits as to scope, territory and duration.
The foregoing is general information only, not specific legal advice. Consult with your own attorney before taking legal action. No attorney/client relationship has been created or should be implied by anything contained herein.