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  4.  | HouseCanary awarded $706M judgment re theft of trade secrets

HouseCanary awarded $706M judgment re theft of trade secrets

| Mar 29, 2018 | Trade Secret And Non-Compete Disputes |

For businesses in Florida and across the nation, protecting proprietary information could prove essential to safeguarding the longevity of the company. Should another party attempt to obtain this information through unlawful methods, a company may wish to protect its business interests through litigation. A company in another state was recently awarded a $706 million judgment after another party used a computer program to steal trade secrets.

According to reports, a company known as Amrock had initially hired HouseCanary to assist with certain aspects of operation. Once each party signed an agreement, HouseCanary claims the other company used a computer virus to gain access to proprietary information. The company claims that Amrock continued to use this information without consent and refused to provide payment for services rendered.

Amrock asserts that it did not obtain any such information and subsequently accused the other company of failing to comply with the terms of the initial agreement. Amrock claims the products that HouseCanary provided were incomplete and thus couldn’t be used. However, during a recent trial, a jury reached a unanimous decision stating that Amrock had stolen trade secrets from HouseCanary through fraudulent methods.

Theft of trade secrets is a serious issue that no company should ever have to experience. Business owners who wish to protect against the harm of such treatment could consult with an attorney for guidance in pursuing restitution. An attorney in Florida can examine the situation thoroughly, and if a theft has occurred, assist a client in safeguarding business interests and pursuing the full amount of compensation entitled through a claim against the party or parties deemed culpable.

Source: housingwire.com, “Amrock ordered to pay $706 million for stealing trade secrets from HouseCanary“, Ben Lane, March 15, 2018