What is the Economic Espionage Act?
The Economic Espionage Act (EEA) is a US Federal law established in 1996 that makes stealing trade secrets a criminal offense, and thus punishable. Prior to the establishment of the Economic Espionage Act, the Uniform Trade Secrets Act (UTSA) of 1970 made theft of trade secrets a civil offense, and those who illegally profited from such theft could be sued for the profits that should have belonged to the company holding the trade secret. However, theft of trade secrets through coercion, blackmail, outright theft, or by stumbling across a trade secret did not seem to be successfully deterred by the UTSA. Thus those suffering from losses of profits sought to make theft a criminal offense.
