September 2017 Archives

Customer Lists and the Texas Uniform Trade Secrets Act

Customer lists are important assets for companies. They provide crucial leads, a history of consumers' purchases, and other important data. Before the enactment of the Texas Uniform Trade Secrets Act, determining whether a customer list met the definition of a trade secret was complicated and required a heavily factual analysis. However, when the Texas Legislature enacted the Texas Uniform Trade Secrets Act (TUTSA) in 2013, it was clear that the legislature considered customer lists trade secrets. TUTSA defined trade secrets as "information, including...list[s] of actual or potential customers." Tex. Civ. Prac. & Rem. Code § 134A.002 (6). Despite this clear inclusion as information worth protecting, customer lists must still meet the requirement of including information that is not "readily ascertainable" to be considered a trade secret. Tex. Civ. Prac. & Rem. Code § 134A.002 (6) (A).This blog will look at what information should be included in your customer list to ensure it qualifies as a trade secret and two exceptions to the "not readily ascertainable" requirement.

Adequate Protection for Undersecured Creditors: The Basics

One of the reasons people file for Bankruptcy is to enjoy the protection of the automatic stay. What is the automatic stay? The automatic stay prevents creditors from taking any actions to collect from the debtor. The automatic stay is often problematic for creditors, especially secured creditors facing a debtor in Chapter 11 or Chapter 13 Bankruptcy, who are concerned the value of the collateral will decrease over time while the debtor attempts to complete their payment plan. Fortunately, the Bankruptcy Code allows undersecured parties an opportunity to lift the stay "for cause including the lack of adequate protection" after providing notice and attending a hearing. 11 U.S.C. § 362 (d)(1).

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