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Posts in Trade Secrets.
By Katherine Fechte on April 29, 2016

On  April 27, 2016, the House of Representatives passed a bill that would allow companies to go straight to federal court to fight trade-secret theft by their employees. Currently, when a company’s trade secrets are stolen, the only available remedies are to file a private civil action in state court or to convince the Justice Department to bring a criminal case.

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By Thadford Felton on January 22, 2015 at 1:19 PM

j0438505Buyer beware as the asset protection afforded by non-disclosure and non-solicitation agreements signed by prospective purchasers may not survive the sale. This issue was addressed in a recent federal decision in Illinois offering some cautionary reminders for business buyers. In this case, Keywell LLC (“Keywell”) sought to sell its assets. Croniment Holdings, Inc. (“Croniment”), a bidder for Keywell’s assets, signed a non-disclosure agreement (the “NDA”) which prohibited Croniment from disclosing Keywell confidential information and prohibited Croniment from hiring any of Keywell’s employees with whom Croniment came into contact during negotiations. Keywell and Croniment entered into an asset purchase agreement by which Croniment would serve as the stalking horse bid for Keywell’s assets in bankruptcy.

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