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Trade Secrets › Fiduciary Duty

A Trade Secret is any information, not generally known or easily ascertainable, by which an enterprise develops an economic advantage over competitors or customers. In order to maintain trade secrets'... more +
A Trade Secret is any information, not generally known or easily ascertainable, by which an enterprise develops an economic advantage over competitors or customers. In order to maintain trade secrets' protected legal status, enterprises must make reasonable efforts to keep the information secret and prevent unnecessary disclosure.  Trade Secrets may include processes, formulas, methods, designs, patterns, et cetera.   less -
McDermott Will & Emery

Jury Trial on Legal Issue Denied, But No Harm Done

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The US Court of Appeals for the Seventh Circuit affirmed a district court’s denial of a jury trial, concluding it was harmless error because the defendant would have been entitled to a directed verdict regardless. Overwell...more

Proskauer - Trade Secrets

Employee Mobility and Trade Secrets in the Golden Era of Life Sciences Innovation

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The life sciences sector is in its “golden era” of innovation with the convergence of disciplines—including genetics, immunology, cell biology, and artificial intelligence—changing the speed, efficiency, and cost at which...more

Kohrman Jackson & Krantz LLP

Protecting Your Company’s Confidential Information: Takeaways from Meta’s Lawsuit Against Its Former Employee

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Meta Platforms Inc., the parent company of Facebook, Instagram, and other products, recently filed a lawsuit in a California state court against a former vice president for allegedly taking confidential information from Meta...more

Proskauer - Minding Your Business

CA Federal Court Awards Biomedical Companies $62M Following Jury Trial Involving Confidentiality-Related Claims

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On November 1, 2023, a jury in the U.S. District Court for the Central District of California awarded damages to Skye Orthobiologics, LLC (“Skye”) and Human Regenerative Technologies, LLC (“HRT”) for breach of contract,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Insights: The Delaware Edition - December 2023

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In this issue, we discuss recent Delaware court developments regarding officer liability, who can recover “lost-premium” damages, and trends in books and records actions, among other topics....more

Skadden, Arps, Slate, Meagher & Flom LLP

Court of Chancery Finds Officer Liable for Competing With Corporation and Misappropriating Trade Secrets

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On September 1, 2023, Vice Chancellor Paul A. Fioravanti, Jr. of the Court of Chancery delivered a decision finding that the president of a plaintiff company and a second business the president had formed and served...more

Amundsen Davis LLC

Holiday Reminder: Protect Your Business in “Restrictive Covenant Season”!

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Early in the New Year we often see employees switching jobs, which can trigger disputes over restrictive covenants in their employment agreements. As 2023 draws to a close, here are some things to keep in mind to protect your...more

Freeman Law

Employee Exits: Preparations to Compete Despite Fiduciary Duties

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Introduction - The dissolution of an employment relationship can provoke conflict, uncertainty, and stress. The stress can be heightened when the departing employee is likely to compete with the former employer, using...more

Hendershot Cowart P.C.

Shareholder Actions: Direct Vs. Derivative Suits

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When it comes to protecting their interests – or the interests of the corporation – shareholders have unique rights to take legal action. They can file suit either on behalf of the corporation itself, known as a derivative...more

Winstead PC

Employee’s Fiduciary Duty May Not Be Limited To His Or Her Employer

Winstead PC on

​​​​​​​In Trench Tech Int’l, Inc. v. Tech Con Trenching, Inc., the son of an owner of a company, who was an employee, downloaded design plans and other information and went to another company who used that information. No....more

McGlinchey Stafford

Is My Electronic Signature Valid? - Commercial Law Bulletin - June 10 2022

McGlinchey Stafford on

Ohio- Uniform Trade Secrets Act Sal’s Heating & Cooling, Inc. v. Bers Acquisition Co., 8th Dist. Cuyahoga No. 110685, 2022-Ohio-1756- In this appeal, the Eighth Appellate District affirmed the trial court’s decision,...more

McDermott Will & Emery

Self-Dealing Lawyer Held Jointly and Severally Liable in Trade Secret Misappropriation

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The US Court of Appeals for the Fifth Circuit affirmed a judgment holding a lawyer jointly and severally liable for trade secret misappropriation and fraudulent transfer and enjoining any further use of the trade secrets...more

Holland & Knight LLP

Holland & Knight's China Practice Newsletter: January-February 2022

Holland & Knight LLP on

Holland & Knight invites you to read our China Practice Newsletter, in which our authors discuss pertinent Sino-American topics. HIGHLIGHTS: ...Patterns of Trade Secret Issues ...Fiduciary Responsibilities When...more

McDermott Will & Emery

The Plot Plot Thickens: Trade Secret, Tortious Interference, Fiduciary Duty Claims Survive Motion to Dismiss

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A judge from the US Court of Appeals for the Third Circuit sitting by designation in the US District Court for the District of Delaware denied a motion to dismiss claims of misappropriation of trade secrets, tortious...more

Rothwell, Figg, Ernst & Manbeck, P.C.

IP Assignment Considerations for Emerging Companies

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Founders of an emerging company must decide early on in its growth cycle whether to require employees to assign their inventions (including rights to patent and patent applications –collectively “patent rights”) to the...more

McDermott Will & Emery

Trade Secret Misappropriators Fail to Launch in Rocket Facility

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Addressing a variety of challenges to a judgment against defendants in a trade secret misappropriation action, the US Court of Appeals for the Third Circuit found that the plaintiff had standing on the basis of lawful...more

Womble Bond Dickinson

Someone Steal Your Confidential Information? You Might Just Be Out Of Luck

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Where a business alleges that a former employee stole its confidential information and gave it to a competitor which then used it to compete, the business has no claim for unjust enrichment against the former employee or...more

Ward and Smith, P.A.

Live-Action Role-Playing — The Challenges of Working With Family Members

Ward and Smith, P.A. on

Leaders of closely held businesses got an opportunity to view a family-owned enterprise as an outsider would, instead of their usual position inside a company. Ward and Smith's 2019 Closely Held Business Summit featured a...more

Holland & Knight LLP

“Head Start” Damages Affirmed Against Employee Who Started Competitor in China

Holland & Knight LLP on

An often sought remedy in trade secret cases is unjust enrichment, which DTSA and several uniform state trade secret acts permit plaintiffs to seek for the unlawful benefit received by defendants "that is not addressed in...more

Spilman Thomas & Battle, PLLC

Trade Secret Misappropriation and Employee Fiduciary Breach in ASML v. XTAL Results in Large Judgement

Spilman Thomas & Battle, PLLC on

On May 3, 2019, following a jury verdict rendered last November, a Santa Clara, California court entered a final judgment for $845 million in favor of semiconductor maker, ASML, in its suit against rival, XTAL, for stealing...more

Adler Pollock & Sheehan P.C.

Noncompetes with Massachusetts Employees: Subsidizing a Former Employee’s “Garden Leave”

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Effective October 1, 2018, employers in Massachusetts, Rhode Island, and other states seeking to hold Massachusetts employees to noncompete agreements must meet the requirements of a new law passed by the Massachusetts...more

Shook, Hardy & Bacon L.L.P.

Zillow Sues Rival Compass Alleging IP Theft And Breach Of Contract Over Its Artificial Intelligence, Machine Learning, And Cloud...

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Switching from defense to offense, Zillow Group, Inc., best known for its residential real estate marketplace technology, recently filed a lawsuit in the U.S. District Court for the Western District of Washington alleging a...more

Seyfarth Shaw LLP

Fed Seeks to Bar Two Bankers for Life for Stealing Confidential Information

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After being slapped with a post-trial judgment last April totaling $2.2 million for misappropriation of confidential and proprietary information, two Wyoming bank executives were named in an unprecedented “Notice of Intent to...more

Seyfarth Shaw LLP

Pennsylvania Federal Court Finds That Plaintiff’s Trade Secret Misappropriation Allegations Hold Up

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A Pennsylvania federal court recently denied Defendant Synchrony Group, LLC’s motion to dismiss a trade secret lawsuit filed by Plaintiff Jazz Pharmaceuticals, Inc. (Jazz”) holding that Plaintiff sufficiently stated a trade...more

Seyfarth Shaw LLP

Fiduciary Duties With Respect To Trade Secrets For Dual Or Multiple Directors

Seyfarth Shaw LLP on

The purpose of this short paper is to ‘join the dots’ between a director’s fiduciary duties and especially a person holding dual or multiple directorships and trade secrets....more

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