7.07.2016

Some Key Pointers of the New Federal Trade Secret Statute that can Affect Your Business and Your Contracts

Thanks to the new Defense of Trade Secrets Act (DTSA), businesses and individuals can now benefit in numerous ways in defending their trade secrets from obtaining federal jurisdiction to gaining vigorous equitable relief to the recovery of compensatory damages, punitive damages, and attorneys’ fees.

To qualify for these benefits, businesses and individuals need to revise existing confidentiality agreements and restrictive covenants and notify employees that they are entitled to immunity if they disclose a trade secret for the purpose of reporting suspected illegal conduct. Failure to give notice in the manner required by the DTSA, means a business or individual will not be able to recover punitive damages or attorneys’ fees. 

If you wish to read more on this topic, click here.

The DTSA notification requirements can be somewhat confusing and it is important to properly update or draft agreements that meet these requirements. For help in meeting DTSA notification requirements, further protecting your trade secrets and filing a trade secrets claim, contact me at danny@djimlaw.com or call me at 929.322.3546.
Matter included here or in linked websites may not be current. It is advisable to consult with a competent professional before relying on any written commentary. No attorney client relationship is established by the viewing, use, or communication in any manner through this web site. Nothing on this blog or blog posting is official legal advice; it is just information and opinion. But if you want to, you can visit my professional website at www.djimlaw.com and if you wish to learn more then contact me. 

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