Law360, New York (May 11, 2016, 4:04 PM EDT) -- President Barack Obama on Wednesday signed the Defend Trade Secrets Act into law, the culmination of a yearslong bipartisan effort to create a federal system of trade secrets law.
The new law, which overwhelmingly passed both the House and the Senate last month, will allow companies for the first time to file federal civil lawsuits for trade secrets theft. Until now, companies could either sue under various state laws or, in rare circumstances, lobby federal prosecutors to bring criminal charges.
The president has long publicly supported the legislation, which proponents say will bring greater predictability to trade secrets law than the...
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