Obama Signs a Bill Allowing Companies to Sue for Trade Secret Theft

On April 27, 2016, President Obama signed the “Defend Trade Secrets Act of 2016,” a bill making it a crime to steal intellectual property. As stated by President Obama, “We come up with new services, new goods, new products, new technologies. Unfortunately, all too often, some of our competitors, instead of competing with us fairly, are trying to steal these trade secrets from American companies, and that means a loss of American jobs, a loss of American markets, a loss of American leadership.” Due to limited FBI resources to investigate and prosecute trade secret theft and theft of trade secrets costing the economy more than $300 billion a year, according to the Commission on the Theft of American Intellectual Property, the need has become increasingly essential for companies to be able to defend their trade secrets.

For more information regarding the Defend Trade Secrets Act of 2016, please click here.

For more information about intellectual property matters in New York, please click here.

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The Law Offices of Keith R. Betensky, Esq.
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