Trade secrets are one of a corporation’s most valuable assets. However, they lack adequate protection under federal law, leaving them vulnerable to theft and misappropriation. As technology advances, it becomes easier and less time consuming for individuals and entities to access and steal trade secrets to a corporation’s detriment. Most often these thefts involve stealing trade secrets in an intangible form. Current legislation fails to adequately protect intangible trade secrets, leaving them vulnerable to theft. An amendment to the National Stolen Property Act that encompasses intangible trade secrets would close a loophole that currently exists relating to intangible assets, allowing for unanimity in similar cases of trade secret theft. Moreover, a federal civil statute would provide an overarching framework for civil trade secrets protection and would allow corporations with trade secret theft claims access to federal courts that can provide civil remedies and emergency relief for diverse parties from different states or countries.
Another Bite at the Apple for Trade Secret Protection: Why Stronger Federal Laws Are Needed to Protect a Corporation's Most Valuable Property,
10 Brook. J. Corp. Fin. & Com. L.
Available at: https://brooklynworks.brooklaw.edu/bjcfcl/vol10/iss2/10