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US Trade Secret law (18 U.S.C. § 1836) is a set of laws that protects businesses from the unauthorized use of their trade secrets. A trade secret is any information that gives a business a competitive advantage, and is kept confidential by the business. This information can include things like customer lists, manufacturing processes, or marketing strategies.
The primary federal law that governs trade secrets is the Defend Trade Secrets Act (DTSA). The DTSA was enacted in 2016, and it provides a number of new tools for businesses to protect their trade secrets. The DTSA allows businesses to bring civil lawsuits against anyone who misappropriates their trade secrets, and it also allows the government to bring criminal charges against those who steal trade secrets for economic or military advantage.
In order to be protected by the DTSA, a trade secret must meet the following three requirements:
In addition to the DTSA, there are a number of other federal laws that can be used to protect trade secrets. These laws include the Economic Espionage Act, the False Claims Act, and the Racketeer Influenced and Corrupt Organizations Act (RICO).
The primary federal law that governs trade secrets is the Defend Trade Secrets Act (DTSA). The DTSA was enacted in 2016, and it provides a number of new tools for businesses to protect their trade secrets. The DTSA allows businesses to bring civil lawsuits against anyone who misappropriates their trade secrets, and it also allows the government to bring criminal charges against those who steal trade secrets for economic or military advantage.
In order to be protected by the DTSA, a trade secret must meet the following three requirements:
- The information must be confidential. This means that it must not be generally known to the public, and it must not be readily ascertainable by proper means.
- The information must have economic value. This means that it must give the business a competitive advantage over its competitors.
- The business must have taken reasonable steps to protect the confidentiality of the information. This may include things like:
- Requiring employees to sign confidentiality agreements
- Limiting access to the information to those who need to know it
- Storing the information in a secure location
- Marking the information as confidential
In addition to the DTSA, there are a number of other federal laws that can be used to protect trade secrets. These laws include the Economic Espionage Act, the False Claims Act, and the Racketeer Influenced and Corrupt Organizations Act (RICO).