CS/HB 55 Summary

• Amends the definition of "trade secret" in Florida Statutes section 812.081 to explicitly include financial information alongside scientific, technical, and commercial information.

• Establishes that trade secrets must be secret, of value, for use by the business, and provide competitive advantage, regardless of novelty, invention, or patentability.

• Maintains criminal penalties for theft, embezzlement, or unlawful copying of trade secrets as a third-degree felony, punishable under sections 775.082 or 775.083.

• Reenacts related statutes (581.199, 721.071, 812.035, and 815.04) to incorporate the amended trade secret definition into existing confidential business information and intellectual property protections.

• Effective date: October 1, 2016.