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U.S. Trade Secrets Law, Panasonic: Intellectual Property

A closed-door briefing was held in Washington yesterday for staff on the Senate Judiciary Committee to review draft laws to create a new private right of action under federal law for the theft of trade secrets.

Industry experts and academics advised on the legislation, which is pending in the U.S. House of Representatives and Senate and known as the Trade Secrets Protection Act of 2014 and the Defend Trade Secrets Act of 2014, respectively. The bills, which have bipartisan sponsors, would allow companies to bring civil suits in federal court when their trade secrets have been misappropriated.