As we have previously noted, Congress this year is actively considering two bills that would create a federal private right of action for trade secret theft: The Trade Secrets Protection Act (H.R. 5233) and the Defend Trade Secrets Act (S. 2267).
On Friday, August 15, 2014, Judge Gerald McHugh of the Eastern District of Pennsylvania let stand several counterclaims that IMS Health Inc. (IMS) made against Symphony Health Solutions Corp. (Symphony) in connection with related to allegations that Symphony had poached IMS employees to steal trade secrets.
A non-compete covenant is a contract, or a clause in a contract, limiting a party from competing with the business or trade of another party. Most commonly such covenants are entered into between employers and their employees, or between companies during a transaction involving transfer of business or goodwill.
Despite the altruistic nature of some non-profits, they too are entitled to trade secret protection.
We have written recently about the ongoing effort in Congress to create a federal civil remedy for trade secret misappropriation.
Federal legislators introduced bills this year to create a civil cause of action for private litigants in federal court for trade secret misappropriation.
It feels relatively rare that an impactful piece of legislation has genuine bipartisan support—but that’s exactly what we’re seeing with the push for federal trade secrets legislation. And not only is there support on both sides of the aisle, but from major businesses as well. So, will it become a law?
The judgments rendered in two recent 2014 federal criminal cases reveal the inherent complexity in prosecuting international trade secret misappropriation claims.
On July 29, 2014, a bipartisan group of members of the U.S. House of Representatives introduced a bill that would create a federal private right of action for trade secret theft.