The newly signed Defend Trade Secrets Act, or “DTSA” provides companies with new tools to protect their trade secrets. Most importantly, the DTSA allows companies to pursue their trade secret claims in federal court, recover exemplary damages, and recover attorney’s fees. However, in order to take advantage of these new tools, companies need to update all of their non-disclosure agreements and make sure to include the required language and disclosure of immunity provisions of the DTSA.
As Chris Werner discusses on anchor.fm this morning, companies need to discuss the new DTSA requirements with their attorney immediately in order to ensure that they can take advantage of these new tools for protecting trade secrets.