New Federal Trade Secrets Legislation Proposed

On July 17, 2012, Democratic senators Herb Kohl (Wisconsin), Sheldon Whitehouse (Rhode Island), and Chris Coons (Delaware) introduced legislation which they believe will aid American companies in effectively combating the theft of trade secrets. The proposed legislation, known as the Protecting American Trade Secrets and Innovation Act of 2012(“PATSIA”), will allow American companies dealing with economic espionage and trade secret theft to seek redress in federal courts, rather than having to file suit in individual state courts. A similar bill was introduced in October of 2011 as reported here.

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