U.S. Chamber Praises Bipartisan Passage of Trade Secret Protections
WASHINGTON, D.C.—The U.S. Chamber of Commerce today praised the passage of S. 1890, the “Defend Trade Secrets Act of 2016,” in the U.S. House of Representatives. The Chamber’s Global Intellectual Property Center (GIPC) worked with more than 40 associations and companies in support of the bipartisan legislation, which previously passed in the Senate with unanimous support. The bill will provide additional civil remedies to help protect American innovators from theft of their trade secrets.
“American innovators have changed the world by introducing thousands of cutting edge products and technologies into the marketplace,” said David Hirschmann, president and CEO of GIPC. “The trade secrets, unique formulas, and know-how that set these companies apart are constantly under attack from other countries and those wishing to steal their success. The ‘Defend Trade Secrets Act of 2016’ provides much-needed protections for American innovators and the millions of workers they employ. We thank Chairmen Hatch, Goodlatte, and Grassley, as well as Senator Coons and Representatives Doug Collins and Jerrold Nadler, for moving this bipartisan bill forward.”
“We urge President Obama to sign this legislation into law as soon as possible,” Hirschmann added.
The Chamber’s Global Intellectual Property Center is working around the world to champion intellectual property (IP) rights as vital to creating jobs, saving lives, advancing global economic growth, and generating breakthrough solutions to global challenges. The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.