Brewer Science Lauds Passage of Landmark Bill to Defend Trade Secrets(PresseBox) (Rolla, MO, )
Brewer Science, which won a major victory against intellectual property thieves last September when a court awarded the company $10 million for the theft of its trade secrets, has been urging Congress to pass the legislation and helped lead a coalition of technology companies in the semiconductor industry supporting the bill.
"If we do not sharpen federal law to protect the trade secrets of American companies, we risk dulling the spear of innovation that drives our economy," said Dan Brewer, Executive Director Intangible Assets for Brewer Science. "Over the last 35 years, Brewer Science has researched, developed, and created innovative technologies that Americans and people around the world are using every day. For companies like ours that make significant investments in research and development to provide our customers with leading-edge products that create a competitive position in the marketplace, intellectual property theft represents a major threat. We are pleased that Congress recognized the significant blind spot in federal law related to the protection of trade secrets, and we are hopeful President Obama will sign this landmark legislation."
Brewer Science credits Missouri's Congressional delegation for its unanimous and bipartisan support for the legislation. U.S. Senators Roy Blunt and Claire McCaskill voted for the legislation earlier this month. On Wednesday, all eight Missouri members of the U.S. House supported the legislation, including Representatives Blaine Luetkemeyer, Billy Long, Jason Smith, Ann Wagner, Vicky Hartzler, Lacy Clay, Sam Graves, and Emanuel Cleaver.
The Defend Trade Secrets Act:
Harmonizes U.S. law by building on the Economic Espionage Act to create a uniform standard for trade secret misappropriation allowing companies to craft one set of nondisclosure policies secure in the knowledge that federal law will protect their trade secrets.
Provides for injunctions and damages, to preserve evidence, prevent disclosure, and account for the economic harm to American companies whose trade secrets are stolen, without preventing employee mobility.
Updates federal law to provide consistent remedies for other forms of intellectual property, such as patents, trademarks, and copyrights, which are all covered by federal civil law.