A person buys or receives a trade secret knowing that it has been stolen.A trade secret is copied without authorization.A trade secret is stolen or is taken without authorization.Several different ways that trade secret theft can occur are when: The Economic Espionage Act contains two crime categories: economic espionage and trade secret theft. The maximum possible prison sentence will be 15 years instead of 10. The individual fine increases to $500,000 and the corporate fine will be $10 million. If trade secret theft is done on behalf of a foreign government or agent, the punishment will be much more severe. A ten-year prison sentence is also possible. Corporations can be fined as much as $5 million. When convicted of trade secret theft under the provisions of the Economic Espionage Act, an individual can be fined up to $250,000. Stealing or misappropriation of trade secrets has been a federal crime since the Economic Espionage Act took effect on January 1, 1997. Now that the DTSA is in place, companies will be able to access the federal court to defend their intellectual property and to seek damages when this property has been stolen or used without permission. In the House of Representatives, only two votes were cast against the DTSA, and the Senate passed the DTSA unanimously. The DTSA was meant to create a new method for protecting intellectual property from theft and also amended the Economic Espionage Act of 1996. In 2016, the Defend Trade Secrets Act (DTSA), which is also known as the theft of trade secrets act, was signed by President Obama. The theft of trade secrets act is a piece of legislation that was passed to provide companies the ability to use the federal court system to protect proprietary information and to seek remedies when this information is stolen.
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