Political Quotes

“I thank the ranking member for yielding, as well as for his tremendous leadership, and Chairman Goodlatte, Congressman Collins, Congressman Nadler, as well as the Protect Trade Secrets Coalition, for their tremendous work in getting us to this point where we are on the verge of passing this very important piece of legislation. Whether it is the original recipe created by Colonel Sanders in connection with Kentucky Fried Chicken or whether it is the special sauce made famous by the iconic Big Mac of McDonald's or whether it is Corning's glass that is so frequently used and found in many of our smartphones all across the country, trade secrets are as American as baseball and apple pie. Unfortunately, we have found ourselves, over the last few years, in a situation where trade secret theft has become a significant problem, by some accounts costing us in excess of $300 billion per year and more than 2 million jobs annually. Traditionally, trade secret theft has been dealt with on the civil side as a matter of State law. But because of the increasing nature of the problem and the fact that it is both multistate and multinational in nature, the State law domain has become inadequate, which brings us to this piece of legislation that would create a Federal civil cause of action for trade secret misappropriation, giving our companies and stakeholders access to a uniform body of law that can deal with trade secret theft in a more appropriate fashion.…”