Chris Coons: “I thank Senator Hatch for his leadership on this important issue. As the Senator from Utah has mentioned, trade secrets…”

“I thank Senator Hatch for his leadership on this important issue. As the Senator from Utah has mentioned, trade secrets are the only form of intellectual property not protected from theft under Federal civil law, which is particularly striking when one considers the value of trade secrets to the economy. According to some estimates, they are worth $5 trillion for the U.S. economy, on par with IP protected by patent. The scope of the loss due to theft or misappropriation is huge, somewhere between $160 and $480 billion annually. I submit that there is not a State in the country that has not been affected by this problem, and Delaware is no exception. In the 1960s, DuPont--one of our signature manufacturing chemistry-based companies-- invented Kevlar, a para-aramid fiber with extraordinary strength that is also very lightweight. These properties make Kevlar versatile, but its best known use is in lifesaving body armor worn by our police officers and the brave men and women in the American Armed Forces. It has saved thousands of lives, including more than 3,000 police officers here in the United States whose lives have been saved by Kevlar vests. About 10 years ago, DuPont developed the next generation of Kevlar, which is even lighter and better able to withstand penetrating trauma from a broader range of rifle rounds and IED-generated shrapnel. It represented a real breakthrough in safety, but it cost millions of dollars to develop.…”