Facts

TechForward filed suit against Best Buy Co., alleging that Best Buy improperly used its trade secrets. TechForward, a small start-up company, alleged that Best Buy misappropriated its trade secrets relating to TechForward's Guaranteed Buyback. Under the Guaranteed Buyback Plan, customers can pay for the right to redeem newly purchased electronic devices at a future date in exchange for store credit that represents a percentage of the original purchase price that can be used toward the purchase of another device from the retailer.

TechForward claimed that, after months of working to implement TechForward's system in Best Buy stores, Best Buy misappropriated the trade secrets and initiated its own buyback program without TechForward.

DEFENDANT'S CONTENTIONS:
Best Buy asserted that the claimed trade secrets were factually baseless estimates of Best Buy's own performance that did not have independent economic value (and so were not trade secrets), and that the use of the subject information was permitted by the parties' agreement and did not result in the sale of any buy back plans.

Damages

Plaintiff alleged over $84 million in unjust enrichment and $62 million in lost profits.

Result

The jury awarded TechForward $22 million in damages. In addition, the jury found that Best Buy's conduct was willful and malicious and the Court awarded an additional $5 million in punitive damages, for a total of $27 million.