From the US Intellectual Property Coordinator…
Last night, the Senate unanimously approved S. 3642, the Theft of Trade Secrets Clarification Act, authored by Senate Judiciary Chairman Senator Patrick Leahy. This bill is intended to clarify a provision of the Economic Espionage Act of 1996 with respect to trade secret theft following the decision of the Federal Second Circuit in the Aleynikov case last February.
Judiciary Committee Ranking Member Senator Charles Grassley and the members and staff of the Senate Judiciary Committee were also instrumental in passing this bill.
President Obama and his Administration recognize the important role that trade secrets and intellectual property play in the U.S. economy. The theft of trade secrets can cripple a company’s competitive advantage in foreign markets, diminish export prospects around the globe, and put American jobs in jeopardy. As an Administration, we look forward to continuing to work with Congress to improve enforcement of U.S. intellectual property laws.
U.S. Intellectual Property Enforcement Coordinator
Executive Office of the President