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U.S. launches strategy to protect "trade secret"

21 February 2013 01:14 (UTC +04:00)

Baku-APA. The U.S. White House unveiled a strategy on Wednesday to mitigate "trade secret theft," claiming the theft cripples U.S. companies' competitive advantage and diminishes their export prospects, APA reports quoting Xinhua.

The strategy combined a series of diplomatic and domestic actions. First of all, the U.S. government said it will use trade policy tools to press other governments for better protection and enforcement.

Besides, the U.S. government will help U.S. companies develop and spread best practices to protect "trade secrets."

And the U.S. Department of Justice (DOJ) will make the investigations and prosecutions of "trade secret theft" a top priority. The Federal Bureau of Investigation (FBI) and the intelligence agencies will provide warnings and treat assessments to the U.S. private sector.

With respect to legislation, the White House will work with Congress to evaluate current laws and make necessary changes to enhance enforcement against "trade secret theft."

The U.S. government will also commit itself to increasing public awareness of the threats and risks posed by "trade secret theft" to the U.S. economy.

According to the report outlining the strategy, many federal departments such as Commerce, Defense, Homeland Security, Justice, State and Treasury will be involved in the initiative.