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Running head: Analysis of the Economic Espionage Act Name: University: Lecturer: Date: Analysis of the Economic Espionage Act Introduction The Economic Espionage Act was enacted in 1996. In this act the federal government is responsible for the protection of private property rights in trade secrets. The enactment of the legislation was as a result of the interests the foreign governments had in gaining access to the U. S companies trade secrets.
This was for the reasons of advancing economic interests in their private sector. The economic espionage act is not only limited to enforcements against the foreign governments but also concerned with trade dispute of domestic nature (Gerald et al 1997) Rationale for enacting the legislation The need for federal legislation was realized through two major hearings held as a result of economic espionage. The first was a joint hearing before the Senate Select Committee. It was set to discuss on intelligence and the Senate Judiciary Sub-committee on terrorism, technology and information.
The second hearing was held before the sub- committee on crime in the house of judiciary. The hearings documented two major important items in the legislation. The first was the foreign powers. They were involved in the stealing of critical technologies, data and information from the U. S companies for their own benefits. The second issue was the laws on books.
This looked into the Interstate Transportation of stolen property act and the mail fraud and fraud by statutes (Gerald et al 1997). Strengths of the law Trade secret cases were present from 19 th century and are still in the courts today. It is responsible for protecting national security and the national economy. The secret law protects the holder of the secret from people who misappropriates or obtain the trade secret through illegal means. The economic espionage enacted the federal authorities to investigate and prosecute the alarming cases of espionage conducted by the foreign countries (Richard, 1998). Weaknesses of the law There is no legal way of disclosing the motive and purpose to a competitor who acquires the information.
The law can only protect the information from someone who wants to acquire the secret through illegal means (Richard, 1998). Opportunities to improve the law It is certain that economic espionage will be actively pursued by the FBI. And the cases will be chosen carefully and prosecuted vigorously. They will provide unique challenges to lawyers and business executives in relation to property law (Gerald et al 1997). References Gerald J. Mossinghoff, Derek J Mason and David A.
O (1997). The economic espionage act: A new federal regime of trade secret protection. Retrieved on 18 th July 2009 from web Richard HaroiuiTZ, (1998). The economic espionage act: rules have not changed. Retrieved on 18 th July 2009 from web
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Research essay sample on Running Head Analysis Of The Economic Espionage Act
