Economic Espionage and Trade Secret Theft: Are Our Laws Adequate for Today's Threats? Hearing Before the Subcommittee on Crime and Terrorism of the Committee on the Judiciary, United States Senate, One Hundred Thirteenth Congress, Second Session, May 13, 2014 [open pdf - 6MB]
This is the May 13, 2014 hearing on "Economic Espionage and Trade Secret Theft: Are Our Laws Adequate for Today's Threats?," held before the Subcommittee on Crime and Terrorism of the Committee on the Judiciary. From the opening statement of Sheldon Whitehouse: "We are having a hearing today that is entitled ''Economic Espionage and Trade Secret Theft: Are Our Laws Adequate for Today's Threats?'' Today the Subcommittee is going to explore how we can better protect American businesses from those who try to steal their valuable intellectual property. American companies are renowned as being the most innovative in the world. Companies of every size and in every industry, from manufacturing to software to biotechnology to aerospace, own large portfolios of legally protected trade secrets they have developed and innovated. In some cases, the ''secret sauce'' may be a company's most valuable asset. The theft of these secrets can lead to devastating consequences. For small businesses it can be a matter of life and death. The risk of trade secret theft has been around as long as there have been secrets to protect. There is a reason why Coca-Cola has kept its formula locked away in a vault for decades. But in recent years, the methods used to steal trade secrets have become more sophisticated. Companies now must confront the reality that they are being attacked on a daily basis by cyber criminals who are determined to steal their intellectual property." Statements, letters, and materials submitted for the record include those of the following: Randall C. Coleman, Drew Greenblastt, Peter L. Hoffman, Douglas K. Norman, and Pamela Passman.
S. Hrg. 113-780; Senate Hearing 113-780, Serial No. J-113-59
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