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Economic Espionage Act of 1996

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Trade secrets are often the crown jewels of major corporations, and the U.S. government recognized the importance of protecting this type of intellectual property when Congress enacted the Economic Espionage Act of 1996. This law has these two major provisions:

 Anyone found guilty of stealing trade secrets from a U.S. corporation with the intention of benefiting a foreign government or agent may be fined up to $500,000 and imprisoned for up to 15 years.

 Anyone found guilty of stealing trade secrets under other circumstances may be fined up to $250,000 and imprisoned for up to 10 years.

The terms of the Economic Espionage Act give true teeth to the intellectual property rights of trade secret owners. Enforcing this law requires that companies take adequate steps to ensure that their trade secrets are well protected and not accidentally placed into the public domain.

(ISC)2 CISSP Certified Information Systems Security Professional Official Study Guide

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