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Data Privacy and Network Security Alert: Can you keep a secret?

President Obama recently announced the Administration’s Strategy on Mitigating the Theft of U.S. Trade Secrets emphasizing the importance of protecting trade secrets. While the Strategy primarily involves government, there are important implications for the private sector. Specifically, the Strategy encourages the development of best practices by industry groups, improvements in domestic legislation review and increases in the resources available to small and medium businesses.

The Strategy cites research suggesting that “the pace of economic espionage and trade secret theft against U.S. corporations is accelerating.” It then outlines a strategy to coordinate and improve U.S. Government efforts to stop the theft of trade secrets by foreign competitors or foreign governments by any means – cyber or otherwise, including these measures: