President Obama signs Sen. Coons' bill into law in Oval Office ceremony

Press Release

Today, President Barack Obama hosted U.S. Senator Chris Coons (D-Del.) at the White House for an Oval Office ceremony to sign into law the Defend Trade Secrets Act (DTSA), legislation authored by Senator Coons and U.S. .Senator Orrin Hatch (R-Utah) to help businesses in Delaware and across the country protect their valuable trade secrets. The legislation, which passed the House on April 27 and passed unanimously in the Senate on April 4, has received widespread bipartisan and bicameral support.

Senators Coons introduced the Defend Trade Secrets Act after witnessing several American companies, including the Delaware-based companies Adesis and DuPont, fall victim to trade secret theft. Many companies who have their trade secrets stolen are forced to lay off employees and suffer from a significant decrease in growth and innovation. Trade secrets--such as customer lists, formulas, and manufacturing processes--are an essential form of intellectual property, but they are the only form of U.S. intellectual property that businesses cannot take federal legal action to protect in the event of misuse or theft. Currently, trade secret owners must rely on state courts or federal prosecutors to protect their rights.

"I'm thrilled that despite the gridlock in Congress, we're able to celebrate today a real, bipartisan achievement that will help American businesses grow, innovate, and protect their hard earned intellectual property," said Senator Coons. "Delawareans sent me to Washington to get things done, and I'm so proud to join President Obama and Senator Hatch in the Oval Office today to show the country and our colleagues in Congress that when we set aside political differences and work together, we can do so much to help the American people and our economy. This legislation is going to make a real difference for businesses in Delaware and help them invest in research and development knowing they can take action if they fall victim to trade secret theft. Having worked for an advanced materials manufacturing company in Delaware which relied heavily on its trade secrets, I know companies will feel a sense of relief knowing this law is in place."

"Adesis is grateful to Senator Coons for his work on the trade secrets legislation," said Andrew Cottone, President of Chemistry for Delaware-based Adesis. "Twelve years ago we were the victims of such theft. We witnessed firsthand the job loss, financial loss and technical destruction these actions can have on large and small American companies alike. Adesis is hopeful that with the help of Senators Coons and this legislation, no other companies will have to relive our experiences."

The Defend Trade Secrets Act:

Creates a uniform federal standard for trade secret misappropriation. A company can craft one set of nondisclosure policies secure in the knowledge that its trade secrets will be protected by federal law.
Provides for injunctions and damages, including a narrow, but powerful, ex parte seizure authority when it is needed to prevent the disclosure or further dissemination of a stolen trade secret. The bill also authorizes appropriate final monetary and injunctive relief to account for the economic harm to American companies whose trade secrets are stolen, while also safeguarding the freedom of employees to move from one job to another.
Is consistent with the remedies provided for other forms of intellectual property, such as patents, trademarks and copyrights, which are all covered by federal civil law.

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