Seyfarth Synopsis: Yesterday, May 11, 2016, President Obama signed the Defend Trade Secrets Act (“DTSA”), which Congress passed on April 27, 2016. With President Obama’s signature, the DTSA has now become the law of the land, and a federal civil remedy for trade secrets misappropriation now exists.
Seyfarth’s Trade Secrets, Computer Fraud & Non-Competes Practice Group is on top of the concerning issues to protect company’s trade secrets and avoid DTSA claims, and we wanted to share the following valuable materials that you or a member of your team may find useful:
- Management Alert: A new federal civil cause of action is now available to trade secrets owners seeking to pursue claims of trade secret misappropriation under the Defend Trade Secrets Act. To take full advantage of the remedies provided under the DTSA, companies have an immediate obligation to provide certain disclosures in all non-disclosure agreements with employees, contractors, and consultants that are entered into or updated following today. Our Alert provides a brief history and summary of the DTSA, and, notably, provides business owners a list of tips and strategies to implement in light of the DTSA’s passage. To read the full Alert, click here.