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Wednesday, 27 April 2016 22:21

House Passes Federal Trade Secrets Bill

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The U.S. House of Representatives passed legislation that would allow companies to sue in federal court for damages resulting from theft of trade secrets. The House voted 410-2 to pass the “Defend Trade Secrets Act,” which passed the Senate earlier this month 87-0. The bill next heads to President Obama, who is expected to sign it into law.

Although trade theft is already a federal crime, under current law cases must be lodged by prosecutors and private civil cases must be filed under state law. The Federal Trade Secrets Bill would create a uniform federal standard for trade secret misappropriation and protect against the economic harms created by trade secret theft, providing an additional civil remedy beyond the patchwork of state statutes. 

Read 2274 times Last modified on Thursday, 28 April 2016 13:48