Tim Bickham, Stephen Yang, and Lin Yang authored an article titled "What Protecting American IP Means for Chinese Outbound Investment" for China Law & Practice.
The article discusses the signing of the Protecting American Intellectual Property Act of 2022 (PAIP Act) by President Biden on January 5, 2023. This act requires the President to regularly inform Congress and impose sanctions on foreign individuals or entities involved in significant trade secret theft. The US is making it a priority to protect trade secrets held by domestic companies, and the newly enacted PAIP Act is the newest part of this policy. The PAIP Act aims to enhance the protection of trade secrets held by US entities by deterring future theft and punishing foreign actors responsible for such thefts. Companies should review their intellectual property, assess vulnerabilities, and respond proactively to allegations.
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