Lawmakers passed the Economic Espionage Act of 1996 to criminalize both economic spying intended to benefit a foreign government and the theft of trade secrets. Even so, American businesses claimed to have lost as much as $250 billion in sales to trade secret theft as of the year 2000. Despite their losses, victimized companies remain reticent to come forward, fearing prosecution would expose their trade secrets and damage their corporate image.
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Posted on Wednesday, May 31st, 2006. Filed under: Business Law, Law Misc
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