On June 15, Crowell & Moring hosted a trade secrets webinar, “What the New Federal Trade Secrets Law Means for Your Clients.” The panelists, Mark Klapow, Mark Romeo, Mike Songer, and Vince Galluzzo provided an overview Defend Trade Secrets Act (DTSA), signed by President Obama in May. The panelists also discussed how the courts are likely to interpret certain provisions and provided best practice guidance how to use DTSA to your client’s advantage.
Key Takeaways:
- The DTSA creates the first federal civil cause of action for trade secret litigants. Litigants can now freely access federal courts, including technology savvy judges, broad subpoena powers, and straightforward discovery rules and procedures.
- There is no preemption, so Uniform Trade Secrets Act (UTSA)-based state law claims remain independently viable. The definition of trade secrets and the test for misappropriation remain largely unchanged from the UTSA.
- Ex parte seizures are available on a heightened showing to stop imminent threats and attach assets.
- Notice requirements need to be incorporated into new and amended employee agreements to obtain enhanced damages and fees.
Please click on a link below to access webinar materials. (Note: to listen to the full recording you will need to sign-in or register with ON24.)
If you have any questions or would like additional information, please contact our team.