Disputes regarding trade secrets and corporate espionage are becoming perpetual fixtures in the news. One of the most common scenarios is that a key employee departs to join a competitor and his or her former employer quickly learns that, just before departing, the former employee copied critical proprietary information to an external drive or uploaded it to a cloud storage site without permission.
Another news item is the recent introduction by the House of Representatives of the Trade Secrets Protection Act of 2014. The Act seeks to create a basis in federal law for private companies and individuals to file suit to protect their trade secrets instead of under state law where there may be important differences from one state to the next. One of the sponsors of the federal legislation noted that “American businesses face relentless cybersecurity threats every day, costing our economy billions of dollars and tens of thousands of jobs each year.” This risk could impact your business. Continue reading this entry