Chris Coons: “I begin my remarks by thanking my colleague, good friend, and the leader in this effort to pass the Defend Trade Secrets…”

“I begin my remarks by thanking my colleague, good friend, and the leader in this effort to pass the Defend Trade Secrets Act in the Senate today, the President pro tem of the Senate, Senator Orrin Hatch. In his four decades of service in this body, Senator Hatch has become well known for his ability and willingness to work across the aisle, to be a genuine leader in intellectual property matters, and to fight tirelessly for America's inventors and inventions. I am grateful for the small role I have been able to play in partnering with Senator Hatch to bring this important piece of legislation through the Judiciary Committee and to the floor today. Our country has long been the unquestioned world leader in the creation and production of innovative ideas. Simply put, for over two centuries we understood the critical connection between preserving intellectual property rights and creating sustained economic growth. As a result, we are second to none when it comes to innovation. Yet a critical form of IP, intellectual property, has somehow slipped through the cracks of Federal protection. Of course, I am talking about trade secrets, such as the secret formula for Coca-Cola, Kentucky Fried Chicken, customer lists, pricing strategies, and key stages in a vital manufacturing process. They are the lifeblood of great companies that can lead to the creation of products that make a company unique and uniquely profitable.…”