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 week’s 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.
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