Economic Espionage Act of 1996

The Economic Espionage Act of 1996 is a U.S. law aimed at protecting trade secrets and sensitive business information. It makes it a crime to steal or misappropriate such information for commercial gain. The law applies to actions like industrial espionage, where individuals or companies illegally obtain proprietary information from competitors. The Act allows for both criminal penalties and civil actions, emphasizing the importance of safeguarding intellectual property to foster fair competition and innovation in the marketplace. Overall, it seeks to ensure that businesses can operate without fear of unfair practices.