Credit card data (including cardholder names, credit or debit card numbers, and corresponding CVVs) were akin to passwords and usernames that provided access to something of value,” i.e. an individual’s line of credit with a financial institution or money in an account with a financial institution, and were not “trade secrets” under the Defend Trade Secrets Act.
Category: Intellectual Property Disputes
A Study Concludes Mentioning “Trade Secrets” in Form 10-K Leads to More Cyber Breaches
Trade secrets only have value as long as they stay secret, so once they come into a competitor’s hands or become publicly available, their value is often destroyed.
Is it a Crime to Take Employers’ Trade Secrets?
Few employees realize that when they take their employers’ trade secrets with them prior to leaving their job they may be exposing themselves to criminal liability under the Economic Espionage Act, which makes it a crime to steal trade secrets when (1) the information relates to a product in interstate or foreign commerce (which is virtually any product now days) or (2) the intended beneficiary is a foreign power.
2018 Mid-Year Non-Compete Laws Update
More and more states are amending their non-compete statutes to make them more employee-friendly. This trend, spurred by the White House report on the effect of non-compete agreements on competition and the revelation that some of the largest employers, like Jimmy John’s and Amazon, were requiring their sandwich-makers and warehouse employees to sign non-compete agreements, has continued into 2018.
An Injunction in a Theft-of-Trade-Secrets Case Cannot Prohibit a Party From Using Publicly Available Information
A court order prohibiting defendant from using trade secrets must be broad enough to cover all possible circumstances while narrow enough to include only the illegal activities. Where that line lies depends on the circumstances of each particular case.
5 Tips for Minimizing Trade Secrets Theft by Clients, Contractors and Vendors
The business world is littered with the carcasses of companies which, after they shared their confidential information and trade secrets with a non-competitor, such as their client, supplier, or vendor, were undercut by that party, who all of a sudden realized that they could profit from the information by cutting out the middle-man.