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Federal Defend Trade Secrets Act:

Federal Defend Trade Secrets Act:. What You Should Do Now. ASTA Annual Convention June, 2016. What is a Trade Secret. Non-Public Business Information. With Economic, Competitive Value, such as: Formulas, methods, techniques, processes, business plans, financial or sales data.

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Federal Defend Trade Secrets Act:

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  1. Federal Defend Trade Secrets Act: What You Should Do Now ASTA Annual Convention June, 2016

  2. What is a Trade Secret Non-Public Business Information With Economic, Competitive Value, such as: Formulas, methods, techniques, processes, business plans, financial or sales data

  3. New Trade Secret Protections Supplements Patents, PVPA, State Law Gives trade secret owners access to federal courts and remedies including injunctive relief to prevent misuse or misappropriation, compensatory and punitive damages, attorney’s fees

  4. Protections for Whistleblowers In addition to protecting trade secrets Provides legal immunity for whistleblowers making limited disclosures of trade secrets to government or counsel for sole purpose of reporting or investigating suspected violation of law

  5. What You Should Do Now Give Formal Notice Of trade secret/whistleblower protection In all agreements with employees contractors, consultants , including: offer letters, employment, consulting or engagement agreements, NDA, computer use, severance/separation, invention assignments

  6. Consistently Incorporating Notice Will Afford Owners New Remedies Failure to notify of whistleblower protections/limitations will waive new rights

  7. Applicability and Notice Language Applies to contracts entered May 11 There is no standard language but must provide whistleblower notice of immunities/limitations

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