Press Releases
DelBene Cosponsors Bill to Protect U.S. Companies from EspionageThe legislation would allow companies victim to trade secret theft to file federal lawsuits
Washington, DC,
July 29, 2015
Tags:
Jobs and the Economy
Congresswoman Suzan DelBene (WA-01) helped introduce legislation today that allows American companies that have trade secrets stolen by foreign entities to sue in federal court. “Protecting the ideas of American companies from foreign thieves will ensure an equal playing field for all businesses and will help save U.S. jobs,” DelBene said. “Through my work in the technology sector and as an entrepreneur, I learned the value of trade secrets. Nearly all aspects of a company’s operations – such as interactions with vendors, employees and customers – can involve precious trade secrets that foreign corporations can target and steal. This legislation will help companies that fall victim to seek justice.” The Defend Trade Secrets Protection Act would create a private cause of action to help American companies protect their innovations from foreign espionage, providing trade secret owners with the same right to redress that owners of other forms of intellectual property currently enjoy under U.S. law. Due to the theft of trade secrets, U.S. companies are facing an estimated loss of $160 billion to $480 billion. Washington companies and small businesses would benefit from the legislation. The bipartisan bill, which DelBene also supported in 2014, was introduced by Rep. Doug Collins (GA-09). # # # |