Work it Out Blog

What the Defend Trade Secrets Act Means for Your Business

May 18, 2016 by Jill C. McQueen

On May 12, 2016, President Obama signed the Defend Trade Secrets Act (DTSA), which creates a private civil cause of action under federal law for the misappropriation of trade secrets.  The DTSA would not take the place of existing laws in the various states regarding the protection of trade secrets, but would add to available protections.

There is one immediate change that employers should be aware of:  Any new or updated agreement with employees, contractors, or consultants that governs the use of trade secrets or other confidential information must contain a notice that individuals will be immune from liability for certain types of disclosures, such as those made in confidence to a government official for the purpose of reporting or investigating a suspected violation of the law, as well as those disclosures made in a legal document filed under seal.

If you have questions about the Defend Trade Secrets Act and how it affects your business, contact Jill C. McQueen or your Day Ketterer attorney at 330-455-0173 or info@dayketterer.com.

The content of this blog is for informational purposes only and is not intended as legal advice for any purpose. This blog is not intended to present an exhaustive summary of all applicable laws, or to take the place of legal advice.  If you have any questions regarding the law, please contact us for assistance.