Measure would update laws on theft to encompass trade secrets - Ahwatukee Foothills News: Valley And State

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Measure would update laws on theft to encompass trade secrets

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Posted: Friday, March 7, 2014 12:00 pm

Without comment the House voted Thursday to update laws on theft to include trade secrets.

Current statutes make it illegal to take property that belongs to another. It also includes keeping property that was misdelivered, controlling property knowing it was stolen and obtaining services without paying. HB 2567 adds the theft of trade secrets to the list of what is a crime.

The statute specifically defines “trade secrets” to include formulas, programs, plans, drawings and similar items that have economic value because they are not generally known to the outside world. But it also requires that the owner of the trade secrets have taken “reasonable” efforts to maintain their secrecy.

HB 2567 heads to the Senate after a roll-call vote.

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