ITI Calls on U.S. House to Pass Trade Secrets Bill After Senate Approves Measure to Safeguard Cutting Edge Advances
WASHINGTON – The Information Technology Industry Council (ITI), the global voice of the tech sector, in a statement from President and CEO Dean Garfield today commended the Senate for its quick action the Defend Trade Secrets Act (S. 1890) and called on the U.S. House of Representatives to pass the legislation, which creates a federal civil standard to guard against trade secret theft:
"Trade secrets are really the ingredients for the 'secret sauce' when it comes to technology," Garfield said. “They are the result of major investments in research and development, making them a lucrative target for common criminals and organized espionage. Stealing intellectual property is not a victimless crime because it also robs our economy of growth and innovation. Unfortunately, trade secret theft is increasingly global and accomplished by cyber means.”
“As companies operating worldwide, effective federal trade secrets laws will enhance our global competitiveness and set an example internationally. We thank Senators Orrin Hatch and Chris Coons for championing this legislation, and Majority Leader Mitch McConnell for recognizing the importance of the bill and scheduling it for a floor vote. We call on their colleagues in the House to quickly pass this trade secrets legislation in the coming weeks,” Garfield said.
Last week ITI urged senators to back the legislation, citing it as a ‘key vote’ for the tech sector in a letter addressed to Senate leadership. ITI cited congressional passage of federal trade secrets legislation as a goal in its 2016 legislative priorities earlier this year.
# # #