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JAS USA COMPLIANCE

News & Insights from JAS Worldwide Compliance

JAS Forwarding (USA), Inc.

6165 Barfield Road
Atlanta GA, 30328
United States
Tel: +1 (770)688-1206
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Are Stolen Trade Secrets Worth The Cost?

April 4, 2016

The Senate recently passed a bill aiming at those who steal trade secrets from other businesses. The measure will also allow people and businesses whose trade secrets are stolen to sue for damages in federal court, just as those who have other kinds of intellectual property misappropriated, such as patents and trademarks. The legislation will also permit a court to order the seizure of property if it will protect trade secrets. Trade secret theft costs more than $300 billion a year for the U.S. economy.

"Supporters of the legislation say that in the digital world, trade secrets are far more vulnerable than when business plans or a secret formula were locked in the office safe. Businesses use electronic means to share secrets with far-flung business partners, but that can put enormous amounts of information at risk if it's downloaded from a computer or the cloud," stated an article by the U.S. News.

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