Bipartisan Bill Seeks to Curb Theft of American Intellectual Property, Especially by China theepochtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theepochtimes.com Daily Mail and Mail on Sunday newspapers.
New US Bill Will Punish Foreign Firmsâ IP Theft
Phil Muncaster UK / EMEA News Reporter , Infosecurity Magazine
The US Senate has unanimously passed a new bipartisan bill designed to punish foreign firms that actively seek to steal American intellectual property (IP).
Co-authored by senators Chris Van Hollen and Ben Sasse, the Protecting American Intellectual Property Act will allow the authorities to place sanctions on firms and individuals associated with such activity.
It will require a report to Congress every six months identifying any individual or firm that has engaged in or benefitted from serial theft of US trade secrets, and whether this could be construed as a threat to national security, foreign policy, the economy and/or financial stability of the nation.