Jan 28 2016

WASHINGTON, D.C. – Today, Senator Thom Tillis (R-NC), a member of the Senate Judiciary Committee, applauded the Committee’s passage of the Defend Trade Secrets Act, of which he is an original cosponsor.

Trade secrets and other forms of intellectual property can be easily stolen, often at the direction of a foreign government or for the benefit of a foreign competitor. A recent report from The U.S.-China Economic and Security Review Commission concluded that China is dependent upon trade secret theft for innovation. Intellectual property theft endangers American jobs and threatens incentives for continued American investment in research and development.

The Defend Trade Secrets Act addresses current inadequacies in U.S. law by creating a uniform standard for trade secret misappropriation. It also would provide for injunctions and damages, to preserve evidence, prevent disclosure, and account for the economic harm to American companies whose trade secrets are stolen.

“I am pleased the Senate Judiciary Committee took a stand to help protect American intellectual property from thieves and other bad actors who impose severe economic harm on our nation,” said Senator Tillis. “North Carolina is particularly blessed to be home to some the world’s top innovators and developers of intellectual property, and I look forward to helping them continue their vast economic contributions to our state by working with my Senate colleagues to pass this legislation and make it law.”