Updating And Enforcing Non-Competes And Trade Secret Agreements For In-House Counsel: Key Strategies To Adopt And Pitfalls To Avoid
With the advent of the Defend Trade Secrets Act (“DTSA”) in 2016, the number of organizations choosing to use trade secret law to protect and enforce their intellectual property has risen dramatically. Even a casual observer will recognize that many of the high-profile trade secret misappropriation lawsuits – from the Uber/Waymo lawsuit relating to self-driving car technology to the LG Chem/SK Innovation relating to lithium-ion batteries – involve allegations that the defendant hired away former employees of the plaintiff, and that in so doing, they took the company trade secrets and IP from one firm to the other.
Without state-of-the-art protection, two of an organization’s most valuable assets can be put at risk: key customer relationships can be diverted and valuable IP can be electronically “walked” right out the door. As such, In-House Counsel must be fully prepared to protect their organization’s interests by safeguarding crucial business assets, promoting fair employment practices, and managing the transition of employees subject to post-employment restrictive covenants.
Tune in for the next edition of our IHC Deep Dives Series, as Chris Fontenelli and Richard Reibstein of Locke Lord, will provide key steps and best practices for drafting state-of-the-art non-compete, non-solicitation, and trade secret agreements. Chris and Richard will discuss:
– Loyalty agreements and protection of company assets, including whether to include non-competes along with non-solicitations, how best to protect confidential information, and effective ways to ensure the “return” of ESI,
– DTSA provisions – to include or not,
– Sanctions, including legal fees,
– How to get full value when going to court, including seeking the right relief, selecting the right court, negotiating “on consent” a TRO, preliminary injunction, and permanent injunction, and
– Getting your fees paid by the other side at least in part.
Viewers will come away from the program with a strong understanding of how to enhance existing restrictive covenant and confidential information and trade secret agreements, minimize breaches, and secure meaningful judicial relief if there’s been a breach – and not only a “half a loaf.”
PLEASE NOTE: THE VIDEO IS NOT CLE ELIGIBLE