When a company in Florida and elsewhere develops a game-changing product or operational procedure, it may wish to take every measure necessary to protect its intellectual property. Should the company learn that another party has gained access to and is using sensitive information without consent, trade secret disputes may ensue. Startup company Olaplex LLC has recently filed a lawsuit that accuses L’Oreal of theft of trade secrets.
The incident reportedly pertains to the development of a system that provides additional protection to a person’s hair throughout bleaching treatments. Olaplex reportedly claims to have developed the system and asserts that the other company gained access to the information during recent business dealings. Olaplex asserts that L’Oreal stole proprietary company secrets and used the information to continue to build its own brand.
Olaplex has also accused the other company of attempting to poach the employees who were involved in the development of the system. The company asserts that L’Oreal has experienced substantial financial gain through unauthorized use of the system. However, representatives from L’Oreal reportedly deny any wrongdoing and claim to have discovered the system prior to its dealings with Olaplex.
With a great deal at stake, the outcome of trade secret disputes could have a lingering impact on the future of all parties involved. Those who become engaged in similar disputes might choose to gain insight into all their available legal options by seeking legal counsel as soon as possible. An attorney can provide a client in Florida with guidance on what to expect from the process and assist in pursuing the most favorable outcome achievable concerning the future of his or her company.