Sunday, January 8, 2017

The Defend Trade Secrets Act (DTSA) - Try Not to Need It

The Defend Trade Secrets Act (DTSA), signed into law on May 11, 2016 by President Obama, has received wide industry praise from manufacturers including Boeing, Caterpillar, Corning, Eli Lilly and Co., General Electric, Honda, IBM, Intel, Johnson & Johnson, Procter & Gamble, ...

Government officials point out that trade secrets are worth $5 trillion to the U.S. economy, and losses can cost between $160 billion and $480 billion a year. Government data further points out that trade secrets comprise as much as 80 percent of the value of a company’s knowledge portfolio.

DTSA, which extends the Economic Espionage Act of 1996, essentially gives trade secret owners the option of using federal law to file trade secret lawsuits. Prior to DTSA, only state law authorized these lawsuits. more

It took too long to get this good law, but try not to need it. Once your secrets are out the damage is done. Besides, it's far cheaper to conduct regularly scheduled Information Security Surveys with TSCM to protect your information, than it is to go to court. (TSCM - Technical Surveillance Countermeasures, aka debugging sweep.) ~Kevin