A New Law to Help Companies Protect Their Trade Secrets

U.S. businesses have been given another legal recourse, in their never-ending battle against trade-secret theft. The Defend Trade Secrets Act of 2016 was signed into law by President Obama in May. It provides companies with a civil cause of action, in addition to the federal criminal statutes that are already on the books. The measure is especially important because it allows business to act more quickly than before, with a successful resolution depending on law enforcement's ability to act before the thieves get away with their ''loot.'' On this episode, we speak with Frank Cullen, executive director for U.S. intellectual property policy with the Global Intellectual Property Center of the U.S. Chamber of Commerce. He explains why the law represents a major victory for American business innovators. In addition, he helps us to understand just what constitutes a ''trade secret,'' and reveals some of the findings of a new report by the U.S. Chamber on the global impact of counterfeiting.