Dealing With Trade Secret Thieves: Strategies for Cost-Effective Settlement

Trade secret thievery can elicit strong, sometimes emotional, responses by businesses. However, aggressive litigation without a clear agenda (other than retribution) can ultimately be damaging to the business’ long-term interests. Conversely, the best approach is a sound and rational strategy that considers a cost-benefit analysis of all options and which includes a quick settlement on reasonable terms as a one of the cost-effective outcomes.

Key Takeaways:

• Because trade secret theft litigation is typically quite expensive, if a dispute is susceptible to settlement on reasonable terms, a business can save much time, energy, and money by settling.
• It is important to be realistic about terms. Seeking terms more favorable than what a business might realistically attain without a settlement probably will not work and could be counterproductive.
• Litigation can be effective if sufficient proof is in hand to obtain an injunction or a seizure under the recently passed Defend Trade Secrets Act.

“”There is a fear of the unknown, particularly the damage that may be happening with each passing moment.””

https://www.natlawreview.com/article/dealing-trade-secret-thieves-strategies-cost-effective-settlement