Update: Federal Trade Secret Protection Has Arrived!
It’s been a mere two months and we already have an update for you on federal trade secret protection! In March, we wrote about a potential new law that would provide federal protection to trade secrets, creating a more uniform and stronger method of protection. (click here for a refresher) http://www.windycitytrialgroup.com/trade-secret-theft-how-a-new-federal-law-could-change-the-game/ At the time, we expected it to take a long while for the bill to go to the Senate, House of Representatives, and then to the President’s desk, but by last week those steps were completed when President Obama signed the bill into law.
This law comes as a surprise, but certainly a welcome one. Known as the Defend Trade Secrets Act, the law will make federal courts more accessible for trade secret plaintiffs and give more protection to those who steal valuable secrets and quickly travel across state lines. Overall, the Act will strengthen protection by adding a federal cause of action for those claiming trade secret theft.
Another new component of the law is that courts can order seizure of the property stolen to keep the information from being leaked and destroying the secret. The courts may even do this ex parte, i.e., without hearing from the alleged thief. It is clear how important such an order could be; it may help a company keep one of its most valuable assets. download film Walk with Me 2017 now
While this new law is very exciting, it is important to remember that it does not supersede (preemption in legal lingo) state laws already in place. Instead, it joins the other forms of IP law to provide a federal option for cases spanning state borders. This is great news all around for those protecting their trade secrets.