December 10, 2014

Inside Pending Federal Trade Secrets Legislation

Congress has responded to fears from employers over the theft of trade secrets by proposing legislation to address the issue on a federal level, rather than leaving lawmaking up to the states, which has been the historical approach to trade secret law.

Faegre Baker Daniels attorneys Stacey Smiricky, Andrew Ehrlich and Sean Somermeyer authored an article in Law360 in which they explained current laws surrounding trade secret protection as well as details of how the proposed bills in congress might impact employers.

Senior vice president at FaegreBD Consulting Mary Bono added to the article, expressing her optimism that the bill will pass in congress. "This is the kind of bill that should be easy for Congress to get behind." Bono said in Law360. "Members of Congress and their constituents in the business community recognize that cybersecurity is a key public policy issue and the damage caused by trade secret theft is real and substantial."

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