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ARTICLE · 25 JANUARY 2023

Potential Sanctions For Alleged Intellectual Property Theft On The Horizon?

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On January 5, 2023, President Biden signed into law S. 1294, the "Protecting American Intellectual Property Act of 2022". The Act requires the president to report to Congress...

GlobalInternational Law
Reid Whitten
Reid Whitten
Harris Gao
Harris Gao
Michael X.Y. Zhang
Michael X.Y. Zhang
Jonathan Wang
Jonathan Wang
Wenjun Luo
Wenjun Luo
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Background

On January 5, 2023, President Biden signed into law S. 1294, the "Protecting American Intellectual Property Act of 2022". The Act requires the president to report to Congress and impose sanctions on any foreign person or entity the president identifies that has committed or "provided significant financial, material, or technological support" for the significant theft of trade secrets that are "reasonably likely to result in or has materially contributed to a significant threat to the national security, foreign policy, or economic health or financial stability of the United States."

If there is a presidential finding of a trade secret theft, the Act mandates the imposition of five of the sanctions from among the menu of potential sanctions listed below, including the following:

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