New Federal Remedies for Theft of Trade Secrets Comparable to Connecticut UTSA – Part I
Jul 7th, 2016 by Frederick Spaeth | News | Recent News & Articles |
This year Congress gave business owners a new tool to combat theft of their trade secrets: the Defend Trade Secrets Act of 2016, Public Law No: 114-153 (18 U.S.C. 1836(b)) (“DTSA”). Even prior to DTSA, theft of trade secrets was a federal offense under 18 U.S.C.1832 (“Theft of Trade Secrets”)(“ToTS”), exposing offenders to penalties up to $5 million. However, only the U.S. Attorney General was authorized to take action against wrongdoers under this statute, so victims of trade secret theft hoping for compensation or enforcement when the AG would not act had to rely on state law. DTSA now gives victims of trade secret misappropriation a right of private action, with a remedy not available under state l