President Obama Acts to Clarify Federal Trade Secrets Law

While often overlooked, there are occasions in which the world of employment law overlaps with criminal law. One of those areas involves employee theft of company property, and, in particular, valuable assets and/or trade secrets developed and utilized by companies in their daily business operations.

Given the burgeoning importance of technology in an economy that is increasingly service-driven, the recent passage of the "Theft of Trade Secrets Clarification Act of 2012" may be significant, as companies may now have protection for proprietary software which is developed for their internal use, regardless of whether that software is placed into "interstate or foreign commerce" through sale or license to third parties.