How to Prepare for Theft of Company Information

Trade Secrets

Extract from article by Nick Akerman and J. David Jackson

Companies should take three steps now to ensure use of the Defend Trade Secrets Act.

In May, President Barack Obama signed into law the Defend Trade Secrets Act that creates a federal civil cause of action for the misappropriation of trade secrets.  This new law amends the Economic Espionage Act, which makes it a federal crime to steal and use trade secrets. Title 18 U.S.C. 1831, et. seq.  For companies that depend on confidential information to provide them a competitive edge, there are several proactive steps they should take to ensure their use and the full benefits of this statute if their trade secrets are stolen.