Iowa Code § 550.1
Short title
This chapter shall be known and may be cited as the “Uniform Trade Secrets Act”.
Iowa Code Chapter 550 — Trade Secrets
Iowa · statute · Iowa Code ch. 550 · 8 active provisions
Iowa Code § 550.2
Definitions
As used in this chapter, unless the context otherwise requires: 1. “Improper means” means theft, bribery, misrepresentation, breach or inducement of a breach of a duty to maintain secrecy, or espionage, including but not limited to espionage through an electronic device. 2. “Knows” or “knowledge” means that a person ha…
Iowa Code § 550.3
Injunctive relief
1. The owner of a trade secret may petition the district court to enjoin an actual or threatened misappropriation. Upon application to the district court, an injunction shall be terminated when the trade secret has ceased to exist. However, the injunction may be continued for an additional reasonable period of time in…
Iowa Code § 550.4
Damages
1. Except to the extent that a material and prejudicial change of a person’s position occurs prior to acquiring knowledge of a misappropriation and renders a monetary recovery inequitable, an owner of a trade secret is entitled to recover damages for the misappropriation. Damages may include the actual loss caused by t…
Iowa Code § 550.5
Defense — consent of disclosure
In an action for injunctive relief or damages against a person under this chapter, it shall be a complete defense that the person disclosing a trade secret made the disclosure with the implied or express consent of the owner of the trade secret.
Iowa Code § 550.6
Attorney fees
The court may award actual and reasonable attorney fees to the prevailing party in an action under this chapter if any of the following is applicable: 1. A claim of misappropriation is made in bad faith. 2. A motion to terminate an injunction is made or resisted in bad faith. 3. A person acts willfully and maliciously…
Iowa Code § 550.7
Preservation of secrecy
In an action brought under this chapter, a court shall preserve the secrecy of an alleged trade secret by reasonable means, including but not limited to granting protective orders in connection with discovery proceedings, holding in-camera hearings, sealing the records of the action, and ordering a person involved in t…
Iowa Code § 550.8
Statute of limitations
An action for misappropriation under this chapter must be brought within three years after the misappropriation is discovered or should have been discovered by the exercise of reasonable diligence. For purposes of this section, a continuing misappropriation constitutes a single claim.