HIP, Inc. FKA Unitherm Food Sy v. Hormel Foods Corporation

LOKEN, Circuit Judge.

Hormel Foods Corporation is a Delaware corporation with its principal place of business in Minnesota that manufactures and markets meat products. In early 2007, Hormel sought an improved method of producing precooked bacon, which it was then producing in continuous commercial microwave ovens and selling into retail and foodservice markets. On July 20, Hormel entered into a Mutual Confidential Disclosure Agreement (the "MCDA") with HIP, Inc. (formerly Unitherm Food Systems, Inc.) ("Unitherm"), an Oklahoma Corporation that develops cooking processes and *337 sells equipment…