We recently reported that the U.S. Senate passed the Defend Trade Secret Act (“DTSA”), which would create a federal private cause of action for trade secret theft.
This week was the U.S. House of Representatives turn. The House overwhelmingly voted to approve the DTSA by a margin of 410-2. The bill is now headed to President Obama, whose administration has indicated strong approval.
And the Obama administration is not alone in voicing support. The Under Secretary of Commerce for Intellectual Property was vocal in praising the bill, as were corporations like Microsoft and General Electric and lobbying groups like the U.S. Chamber of Commerce, who issued a statement “urg[ing] President Obama to sign this legislation into law as soon as possible.”
We will continue to update you with any new developments and will also begin a new series of posts analyzing important aspects of the new legislation.