Political Quotes

“Mr. President, I rise to speak about two amendments I filed today to help protect American intellectual property from theft abroad. If we are serious about leveling the playing field with countries like China, then protecting U.S. intellectual property from theft has to be a part of it. This summer I went up and down our State meeting with business leaders and asking them about what we need to do in Washington to help them create jobs. Though currency manipulation came up from time to time, it paled in comparison to the fear our innovative business owners had about intellectual property theft. When foreign companies and governments steal our ideas, they are stealing more than just formulas and schematics--they are stealing jobs. These two amendments are about giving America the tools to fight back. I introduced my first amendment with my colleague on the Judiciary Committee, Senator Kohl. It provides a Federal private right of action for victims of trade secret theft. Trade secrets are a critical form of intellectual property, particularly among manufacturers, and when they are stolen, it can result in catastrophic damage to American companies and their employees. After the Korean company, Kolon, was found to have stolen the trade secrets behind DuPont's next generation Kevlar fiber, a jury last month found that DuPont had suffered a staggering $919 million in damages. Trade secrets are a critical part of the American economy.…”