Similarly, if your industry is very competitive, and you have a high rate of employee turnover, you need a formal plan for seizures. This will help you avoid delays in filing your litigation that may cause you to lose your rights. It's important that you have a plan in place for taking action after your trade secrets have been stolen. In most cases, trade secret litigation progresses very rapidly. Spend time developing a plan for responding to suspected trade secret theft or handling a seizure order.Perform an inventory of the trade secrets owned by your company and decide if the protections you have in place are adequate.With the DTSA in place, filing a lawsuit for trade secret misappropriation is much easier than it once was. Reexamine your company's policy for suing for trade secret infringement.Trade Secrets Act's whistleblower provision, so you can receive double damages in a lawsuit. Make sure that your confidentiality and employment agreements are up to date and that they include information about the U.S.However, it does provide companies the options of suing in federal court, which is a powerful tool when it comes to protecting trade secrets.Ĭompanies that are interested in protecting their trade secrets should consider responding to the U.S. Trade Secrets Act does not supersede state law. Trade Secrets Act is to cement common law related to trade secrets and to make clear the remedies available to companies that have been damaged by trade secret misappropriation. Dissimilar remedies for trade secret theft.įortunately, with the DTSA, there is a federal framework for trade secret misappropriation.This proved to be very difficult, as laws related to trade secret theft could vary greatly between states. Prior to the passing of the DTSA, companies whose trade secrets were misappropriated only had the ability to file a lawsuit in state court. Now that the DTSA has taken effect, companies in the United States are better able to protect their trade secrets and can pursue compensation when a secret has been stolen. The bill received bipartisan backing, with only two dissenting votes in the House of Representatives and no dissension in the Senate. Under the DTSA, there is a statute of limitations of three years, and the remedies that are available for trade secrets theft are very similar to those found in state law. The DTSA is a very important piece of legislation, as it created the ability for a civil cause of action at the federal level for trade secrets theft. In 2016, the Defend Trade Secrets Act, also known as the U.S. Trade Secrets Act is a piece of legislation that gives people the right to file a civil lawsuit at the federal level if a trade secret related to foreign or interstate commerce has been misappropriated.
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