Van Hollen, Sasse Revive Bill to Protect U.S. Intellectual Property From Foreign Theft

[TexasTowelie]

U.S. Sens. Chris Van Hollen (D-Md.) and Ben Sasse (R-Neb.) have introduced a bill that would impose harsh penalties on companies and individuals found guilty of stealing American intellectual property.

Their bipartisan Protecting American Intellectual Property Act requires sanctions for people and firms that “engage in, benefit from, or enable the significant and serial theft of U.S. intellectual property.” The measure singles out China for its “routine” theft of U.S. trade secrets.

“Some foreign companies are working overtime, often in coordination with and at the direction of their governments, to steal cutting-edge U.S. technology,” Van Hollen said. “This theft of trade secrets threatens American jobs and businesses and compromises our national security. We must take swift action to stop these malign actions.”

“Given the Senate’s unanimous passage of our bill last Congress, we will be working quickly to get this done,” the senator said.

Read more: https://www.marylandmatters.org/2021/05/06/van-hollen-sasse-revive-bill-to-protect-u-s-intellectual-property-from-foreign-theft/

[elleng]

1. "Some foreign companies are working overtime, often in coordination with and at the direction

of their governments, to steal cutting-edge U.S. technology,” Van Hollen said. “This theft of trade secrets threatens American jobs and businesses and compromises our national security.