In July 2014, the Uniform Fraudulent Transfer Act (UFTA)1 was amended and renamed the Uniform Voidable Transactions Act (UVTA).
News last month that the St. Louis Cardinals, a venerated baseball franchise with a squeaky clean image, is the target of a federal investigation into the hacking of the Houston Astros’ player database sent shock waves through the sports world and beyond, but with several details yet to emerge, key questions remain.
Royal Marine Insurance Group, which offers a unique insurance program to third-party cruise excursion operators, won a temporary injunction Thursday against three former employees accused of taking proprietary information and starting up a similar program at competitor THB International Inc.
Miami law firm Meland Russin & Budwick today announced that Eric Ostroff has been elevated to Partner. Prior to joining the firm in 2010 as an Associate, Ostroff had worked for five years at Weil, Gotshal & Manges where he was part of the Employment Litigation and Complex Commercial Litigation practice groups.
The Uniform Trade Secrets Act is more than three decades old, but a ruling in Arizona this week highlights the fact that the various states that have adopted it are still split over a sticky question: whether the act preempts all other claims of information theft.
The unfortunate reality is that your employees present one of the greatest threats to your company’s proprietary information and trade secrets. Just by working at your company, they have gained skills and knowledge about your industry.
As an attorney who litigates trade secrets and noncompete cases, I see firsthand the many mistakes companies make when trying (or forgetting) to protect their proprietary information. Litigation can be a very expensive lesson, even when the result is favorable. So it’s much cheaper and safer to avoid making mistakes in the first place.
Creativity is a powerful asset in business, and there is no reason to disregard this way of thinking when trying to protect your company’s proprietary information.
Employee departures present one of the greatest threats to a company’s proprietary information.
Certainly, employees need access to such information to do their jobs. But when they leave a company, they might use it against the firm, particularly if they continue working in the same industry. Employers too often ignore this risk to their critical information.