Congress is reigniting hope for the passage of federal legislation that will harmonize the protection of trade secrets across the United States. The Defend Trade Secrets Act (DTSA) has been reintroduced, in lengthier form than its predecessors, by a bipartisan group of Senate and House leaders. The new DTSA aims to harmonize trade secret laws across all states, provide for injunctions and damages to avoid economic harm to American companies without preventing employee mobility, and create remedies for trade secret misappropriation that are consistent with those awarded for other types of intellectual property. The bill enjoys strong support from large companies such as Procter & Gamble, Johnson & Johnson, Nike, General Electric, and The Boeing Company, Boston Software Alliance (BSA), among others. The bill’s bipartisan, bicameral and cross-industry support gives this bill an optimistic outlook.
Read more about the reintroduction of the DTSA in Senator Hatch’s Press Release.
See a full copy of the new DTSA Bill here.