In a matter involving misappropriation of trade secrets related to software tools used in the healthcare industry, Syntel Sterling Best Shores Mauritius Ltd. v. Trizetto Grp., Inc., 68 F.4th 792, the Court of Appeals for the Second Circuit’s (“Second Circuit”) Order identified factors that may guide the recovery of damages based on avoided costs under […]
Trade Secret Misappropriation
Monetary Recovery for Trade Secret Misappropriation
Importance of Evaluating Defendant’s R&D Acceleration and Related Cost Savings More than six years have passed since President Obama signed into law the Defend Trade Secrets Act (“DTSA”) in May 2016. Since then, Federal trade secret actions have been on the rise, with an average of nearly 160 new DTSA cases filed each quarter since […]
Extraterritorial Application of the Defend Trade Secrets Act
Trade secrets are a valuable form of IP which need to be protected. In 2019, the FBI reported that the annual cost to the US economy of counterfeit goods, pirated software, and theft of trade secrets is between $225 and $600 billion. To further the protection of U.S. trade secrets, President Obama signed into law […]
5 Years of Defend Trade Secrets Act
Today marks five years since the passage of the Defend Trade Secrets Act, which grants parties the right to pursue trade secret claims and damages in federal courts instead of only state courts. While damages available to a plaintiff under federal law are similar to damages under state law, Ocean Tomo Managing Director and financial […]