EEA violations could trigger criminal sanctions; stiff penalties are intended to deter economic espionage by foreign companies in the U.S
Article Abstract:
Foreign companies doing business in the US should be aware of the stiff criminal penalties incurred by violating the Economic Espionage Act of 1996. The act is intended to protect US technology and trade secrets from theft by foreign corporations or the agents of foreign governments. The statute has a broad territorial reach, often applying to acts committed outside the US. Foreign companies' consultant and employee recruiting practices, and their nondisclosure commitments could lead them to violate the law unknowingly. To forestall problems, foreign companies should develop compliance plans and training policies.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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The recently enacted Economic Espionage Act, which makes trade secret theft a federal crime, specially addresses theft perpetrated via the Internet
Article Abstract:
The Economic Espionage Act of 1996 makes the theft of trade secrets a federal crime, a significant development in US and international trade secret law. The act follows the definition of trade secret in the Uniform Trade Secrets Act but also includes new, technological methods for creating and storing such secrets. If such theft benefits a foreign government or agent, the penalties the law mandates are even steeper. The new law shows governmental recognition that trade secrets are key to the US economy. Prosecutorial discretion will be key to the law's success.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1996
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Computers spark surge in use of trade secrets; at the same time, technology, particularly the Internet, offers a means of destroying secrets
Article Abstract:
The need for companies to conduct trade secret audits in the Information Age to identify and protect their trade secrets is discussed. Such audits should be conducted regularly to identify trade secret assets, then proceed with the next step, protection of these intangible assets.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 2000
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