This article discusses a recent decision by the 2nd Circuit Court of Appeals that the copying of a proprietary computerized trading system program from Goldman Sachs did not fall under the statutory definition of theft in the National Stolen Property Act, which made theft of trade secrets illegal. The article also warns entrepreneurs whose businesses may also be dependent on proprietary computer code to protect themselves from theft and hold employees and contractors accountable through the use of NDAs, noncompetes, and intellectual property agreements.
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Code Cannot Be Stolen under Federal Law, Says 2nd Circuit