Changes

This measure has not been amended since it was reported to the Senate on January 28, 2016. The summary of that version is repeated here.

*This bill amends the federal criminal code to create a private civil cause of action for trade secret misappropriation.

*A party harmed by a wrongful or excessive seizure may move to dissolve or modify the order and may also seek relief against the applicant of the seizure order.

*The bill increases the maximum penalty for trade secret theft (currently $5 million) to the greater of $5 million or three times the value of the stolen trade secret.

*It adds economic espionage and trade secret theft to the list of predicate offenses that constitute racketeering activity. 

*The Department of Justice must submit to Congress and publish a biannual report on trade secret theft outside the United States.

*The bill expresses the sense of Congress that: (1) trade secret theft occurs in the United States and around the world, (2) trade secret theft harms owner companies and their employees, (3) the Economic Espionage Act of 1996 applies broadly to protect trade secrets from theft; and (4) it is important, when seizing information, to balance the need to address misappropriation with the needs of third parties and the accused party.

The Federal Judicial Center must develop, update, and submit to Congress best practices for seizing information and securing seized information.

The bill provides immunity from civil and criminal liability for an individual who discloses a trade secret: (1) to a government official or attorney in confidence to report or investigate a violation of law, or (2) in a legal complaint or filing under seal.