DTSA 2016: The Trade Secret is Out of the State's Bag
For the first time, trade secret claims now have an open invitation to federal court. The Defend Trade Secrets Act of 2016 (“DTSA”) was signed into law on May 11, 2016 after receiving nearly unanimous support from both the House and Senate. This landmark law creates federal jurisdiction for trade secret theft by allowing misappropriation claims to be brought in federal court instead of state court.
While components of the DTSA mirror current state laws in terms of definitions, statute of limitations, and remedies, it also introduces a new seizure procedure to be used in extraordinary circumstances. Additionally, the DTSA provides whistleblower immunity provisions, and outlines employer notification requirements that will impact the drafting of employment and contractor notices and agreements.
Our litigation attorneys will share insight to help you emerge stronger and more resilient in the new realm of trade secret claims on the federal stage.
You'll leave with:
- The purpose of Defend Trade Secrets Act of 2016 and its intended industry applications
- How DTSA differs from existing state trade secret law
- Case evaluation adjustments to support federal court litigation
- Money damages available and the ability to seek injunctions
- Impacts this law will make on the decision-making of businesses pursuing and defending trade secret theft claims
- Practical tips for litigants, employers, legal practitioners, and those preparing agreements with third parties that will involve trade secrets under the DTSA