On May 11, 2016, President Barack Obama signed into law the Defend Trade Secrets Act of 2016 ("DTSA"), which Congress passed April 27, 2016. So, what does the passage of the DTSA mean for your company?
In a nutshell, the DTSA "federalizes" trade secret law by creating a federal claim for trade secret misappropriation and creates new remedies, including an ex parte seizure order to recover misappropriated trade secrets. It also serves as a reminder that trade secrets can be highly valuable to your company and that you should ensure that your company has reasonable secrecy measures in place to protect them.
Nevertheless, the DTSA also imposes new obligations on employers. 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 the statute's effective date.
Seyfarth's DTSA Desktop Reference guide describes the DTSA's unique legal structure and remedies. We also provide tips and strategies in light of the passage of the DTSA.
How to get your DTSA Desktop Reference guide:
This publication may be requested from your Seyfarth contact in hard copy or eBook format (compatible with PCs, Macs and most major mobile devices). The eBook is fully searchable and offers the ability to bookmark useful sections and make notations for easy future reference.
To request the DTSA Desktop Reference guide in eBook or hard copy, please click the button below:
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
