Tennessee Code 47-25-1707 – Statute of limitations
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Terms Used In Tennessee Code 47-25-1707
- Misappropriation: means :
(A) Acquisition of a trade secret of another by a person who knows or has reason to know that the trade secret was acquired by improper means. See Tennessee Code 47-25-1702 - Person: means a natural person, corporation, business trust, estate, trust, partnership, association, joint venture, government, governmental subdivision or agency, or any other legal or commercial entity. See Tennessee Code 47-25-1702
- Trade secret: means information, without regard to form, including, but not limited to, technical, nontechnical or financial data, a formula, pattern, compilation, program, device, method, technique, process, or plan that:
(A) Derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by other persons who can obtain economic value from its disclosure or use. See Tennessee Code 47-25-1702
An action for misappropriation must be brought within three (3) years after the misappropriation is discovered or, by the exercise of reasonable diligence, should have been discovered. For the purposes of this section, a continuing misappropriation by any person constitutes a single claim against that person, but this section shall be applied separately to any claim against each other person who receives a trade secret from another person who misappropriated that trade secret.