Thursday, March 23 2023   \  Published by JD Supra.

New PAIP Act Requires U.S. President to Annually Report to Congress on Foreign Nationals Involved in the Theft of Trade Secrets from the United States, with Mandatory Sanctions to Follow

New PAIP Act Requires U.S. President to Annually Report to Congress on Foreign Nationals Involved in the Theft of Trade Secrets from the United States, with Mandatory Sanctions to Follow

The Protecting American Intellectual Property Act of 2022 (“PAIP”) became law on January 5, 2023, establishing a new enforcement procedure to deter the theft of trade secrets from the United States by foreign actors. PAIP aims to enhance the protection of U.S. trade secrets and prevent the unauthorized flow of trade secrets from the U.S. to foreign countries by requiring the President to sanction foreign bad actors, in addition to the civil and criminal liability that they may also face.

PAIP’s key focus is to prevent trade secret theft by foreign actors. Under the law, the President must annually provide Congress with a list of foreign entities and individuals who: Read more

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