12 May President Obama Signs Trade Secrets Bill
President Obama on Wednesday signed legislation into law that will provide a federal remedy for U.S. companies seeking relief from the theft of trade secrets, which costs companies billions every year.
Flanked by a bipartisan group of seven lawmakers, Obama praised congressional efforts to pass an enforcement bill that allows companies to seek damages through criminal and civil actions against those who steal valuable trade secrets.
“As many of you know, one of the biggest advantages that we’ve got in this global economy is that we innovate, we come up with new services, new goods, new products, new technologies,” Obama said.