The Defend Trade Secrets Act of 2016 (DTSA), Pub. L. No. 114-153, 130 Stat. 376 (DTSA), signed into law on May 11, 2016, will inexorably have a significant impact on how companies manage their intellectual property. The DTSA is the product of years of legislative wrangling in Congress, and results in new federal protection for trade secrets which, up to this point, has been governed by state law.
The DTSA amends the federal Economic Espionage Act of 1996, 18 U.S.C. §§1831-1839, to add a civil remedy to this previously criminal-only statute. The act provides for multiple equitable and legal remedies, including ex parte orders that can result in seizure or isolation of misappropriated trade secret materials, as well as injunctions and monetary relief including damages for actual loss and unjust enrichment. Parties can also seek a reasonable royalty instead of actual damages. Further, the act provides for exemplary damages for willful or malicious misappropriation.
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