Why Protecting Our Trade Secrets Is Essential To Saving the Economy

Business Insider: Unlike a patent or copyright, a trade secret is non-public intellectual property. It gains economic value because of its secrecy. Some of the most recognized trade secrets include Coca-Cola’s formula and KFC’s famous recipe, but trade secrets include many different types of confidential business information critical to the success of both large and small companies in the United States. The devastating reality is that theft of trade secrets costs the American economy billions of dollars per year.1 Although criminal laws exist to combat such theft, the FBI [Federal Bureau of Investigation] said in a recent Congressional hearing that “[p]rotecting the nation’s economy from this threat is not something the FBI can accomplish on its own.”

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