Senate expected to pass trade secrets bill

By Richard Cowan and Andrew Chung WASHINGTON/NEW YORK (Reuters) – The U.S. Senate is poised to pass a bill on Monday that would give companies greater legal protections for their commercial secrets and would allow them for the first time to sue in federal court if they are stolen. The Defend Trade Secrets Act has significant bipartisan support with 65 cosponsors, led by Senator Orrin Hatch, Republican of Utah, and Delaware Democratic Senator Chris Coons. Theft of intellectual property, including trade secrets, costs U.S. businesses more than $300 billion a year, according to a 2013 report by the Commission on the Theft of American Intellectual Property, which was made up of a bipartisan group of high-ranking former U.S. officials.

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