The Federal Defend Trade Secrets Act Becomes Law
The Federal Defend Trade Secrets Act (DTSA), which was featured in our blog post last week, was signed into law by President Obama on Wednesday, May 11, 2016. As discussed in last weeks post, this important new federal law offers another avenue for employers to protect their valuable trade secrets. The DTSA creates two significant benefits for companies: (1) consistent and uniform law nationwide; and (2) guaranteed access to federal courts. It also provides for injunctive relief and additional monetary remedies. Now that the DTSA has been signed into law, companies seeking the benefit of the DTSA should consult legal counsel to add the new required notice to all confidentiality and trade secret agreements. And as always, employers should carefully identify their valuable trade secrets and take steps to protect that information. That much remains the same.
The information contained in this post is provided to alert you to legal developments and should not be considered legal advice. It is not intended to and does not create an attorney-client relationship. Specific questions about how this information affects your particular situation should be addressed to one of the individuals listed. No representations or warranties are made with respect to this information, including, without limitation, as to its completeness, timeliness, or accuracy, and Lathrop GPM shall not be liable for any decision made in connection with the information. The choice of a lawyer is an important decision and should not be based solely on advertisements.
RSS Feed