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House Passes Federal Trade Secrets Bill

by | Apr 27, 2016 | Uncategorized | 0 comments

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.