The House Judiciary Committee has taken the next major step toward implementation of the Defend Trade Secrets Act of 2016 (DTSA). In an unopposed voice vote the committee has approved the text of the already-passed Senate version (S.1890). DTSA would create a federal civil remedy for trade secret misappropriation. Next step – is passage by the full House. President Obama has indicated his support as well.
From the committee:
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.
At Mizzou, we’re planning our symposium for next academic year that will focus on implementation of the new federal cause of action.