Washington, D.C. – Today the House Judiciary Committee approved S. 1890, the Defend Trade Secrets Act of 2016, by voice vote. Companion legislation was introduced in the House by Representative Doug Collins (R-Ga.).
The bipartisan Defend Trade Secrets Act amends the Economic Espionage Act of 1996 to create a federal civil remedy for stealing trade secrets that will help American innovators protect their intellectual property from theft. Trade secrets include such vital proprietary information as confidential formulas, manufacturing techniques, and even customer lists. Ensuring the protection of this vital information will help U.S. competiveness, job creation, and our economy.
House Judiciary Committee Chairman Bob Goodlatte (R-Va.), Ranking Member John Conyers (D-Mich.), Courts, Intellectual Property, and the Internet Subcommittee Chairman Darrell Issa (R-Calif.), Courts, Intellectual Property, and the Internet Subcommittee Ranking Member Jerrold Nadler (D-N.Y.), Rep. Doug Collins (R-Ga.), and Rep. Hakeem Jeffries (D-N.Y.) praised today’s Committee vote:
“Trade secrets are an increasingly important form of intellectual property that have become more vulnerable to theft as a result of our globalized economy. While current federal law protects other forms of intellectual property by providing access to federal courts for aggrieved parties to seek redress, there is no federal option to do so for trade secret theft. The bipartisan Defend Trade Secrets Act seeks to change that by allowing companies to seek civil penalties in order to protect their businesses from those engaging in economic espionage. S. 1890 gives American innovators a powerful new tool which will help them compete in an ever-evolving global market.”