By: John R. Brumberg
On Wednesday, May 11, President Obama signed the Defend Trade Secrets Act (“DTSA”) into law. The DTSA revolutionizes trade secrets practice at the federal level. Its passage will likely multiply the number of trade secrets cases litigated in federal court.
We provide a few highlights:
The DTSA subjects claims to a three-year statute of limitations, while plaintiffs can secure punitive damages of up to two times the amount of actual damages in the event of willful and malicious misappropriation. Likewise, reasonable attorney’s fees are available for the prevailing party if the trade secret was willfully and maliciously misappropriated or if the claim of misappropriation was made in bad faith.
For more information, please contact John R. Brumberg at JRB@Pietragallo.com.
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