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The US is in the process of drawing up new trade secrets legislation. Will it benefit victims of trade secret theft and how does it compare with previous laws? WIPR finds out.
Imagine a situation where you are sure someone has stolen your idea but you can’t prove it—or at least you face a very long fight to do so.
Trade secrets theft is a nightmare scenario for any business, particular those that have spent years or even decades building a trusted brand or technology. In contrast to much litigation, it’s the biggest and more established companies, with multiple staff and more secrets, that are arguably the more vulnerable.
As it stands it is not possible to protect trade secrets through federal law in the same way that you could a patent, trademark or copyright, so instances of infringement have to be litigated on a state-by-state basis.
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Trade secrets, US trade secret, Robert Milligan, US House of Representatives, brand, technology, Michael Oblon, GE, HOnda, Boeing, Siemens, innovation,